Mayor Lori Lightfoot is readying a new capital investment plan that will spur the local economy and change the way the city apportions its infrastructure funding.
"Mayor Lori Lightfoot is putting the final touches on a multibillion-dollar capital plan that will help aldermen stretch their $1.32 million allotment of 'menu money' and put their constituents to work," report Fran Spielman.
"Over the years, capital plans have been more like political documents. With no overall needs assessment, projects have landed on the city’s list because they were the mayor’s favorites. That won’t be the case going forward," according to information Spielman credits to Ald. Gilbert Villegas (36th).
Additional coverage on the mayor's capital investment plan this week is available from Courtney Cobbs, who writes: "the plan is intended to address a capital funding shortage that has been building for years, and projects will be approved based on a needs assessment, rather than whether or not they happened to be well-received by the mayor, as has been the case in past years."
Process reforms will have to suffice, rather than spending at the levels estimated to meet the need in the city. When Spielman revealed the mayor's intentions to create a new capital investment plan in an article published in August, city officials expected the funding total to fall well short of the $4.4 billion the city needs to maintain its streets, bridges, buildings. and vehicles.
FULL STORY: Lightfoot preparing multibillion-dollar capital spending plan
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