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It's All About the Infrastructure

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Mayor Rahm Emanuel borrowed a little celebrity from Bill Clinton today, jointly announcing the creation of a Chicago Infrastructure Trust. The first key initiative stemming from the mayor's new Economic Plan, the trust will begin by pooling public moneys for earth-friendly building upgrades, transportation improvements, and other projects. Here's where it gets tricky: the $200M or so in city money hopes to attract exponentially-larger private funding. There aren't many solid details yet, but Crain's reporter Greg Hinz reveals a couple ballpark corporate pledges totaling $450M contained in non-binding letters from the mayor's office. That's encouraging. Keep flexing Rahm, keep flexing. [Crain's]