On Monday, April 16 Action Now and other community groups in the Grassroots Collaborative held a press conference at City Hall to urge their aldermen to vote “no” on the mayor’s Infrastructure Trust Ordinance, an ordinance that if passed will give corporate investors the opportunity to finance future development projects in the city of Chicago.
Early in March, Mayor Rahm Emanuel announced the Chicago Infrastructure Trust as “an innovative way to leverage private investment for transformative infrastructure projects to guide the city’s renewal of these vital and foundational elements in the 21st century.”
However, many groups including the Grassroots Collaborative have criticized the ordinance explaining that the measure could open a revenue stream for big banks, that fast decisions are made without a fair dialogue and that City Council oversight is at stake. It could result in another parking meter disaster where taxpayers are on the hook for corporations taking over public services for profit.
ABC News, “Committee OKs mayor’s plan to fund infrastructure projects” (Action Now in video)
WGN News, “Finance Committee takes up infrastructure trust plan” (Action Now in video)
The Gate, “Mayor’s Infrastructure Trust Ordinance Raises Concerns Over Transparency, Accountability” (photo of Action Now)
Progress Illinois, “Finance Committee Scrutinizes, Then Passes, Emanuel’s Infrastructure Trust”