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BY FRAN SPIELMAN City Hall Reporter
Mayor Rahm Emanuel’s plan to have five financing giants bankroll $1.7 billion in Chicago infrastructure projects ran into opposition Monday from aldermen concerned about “hidden fees” and long-term leasing of city assets.
During closed-door briefings with aldermen, sources said Chief Financial Officer Lois Scott stuck to the script and talked only about the $225 million in energy retrofits to government buildings expected to generate $20 million in energy savings used to repay investors.
That wasn’t good enough for Ald. Bob Fioretti (2nd). He’s demanding to know what other projects Emanuel wants to finance with the Infrastructure Trust, how those projects will be chosen and what, if any, user fees may be imposed to make certain that investors get their money back with interest.
