Chicago Construction News staff writer
The Chicago City Council has approved a plan to borrow $830 million to repair streets, sidewalks and bridges.
Supporters said the money will go to critical infrastructure projects and provide jobs for hundreds of construction workers.
“This is a quality of life issue,” said Ald. Walter Burnett. “Paved streets, safe sidewalks, clean water for everyday Chicagoans. These are some of the basic things that people in our communities send us down here to take care of.
“Our communities need these investments now.”
However, opponents argue the plan will only worsen the city’s finances.
“Will Rogers once wisely said, ‘If you find yourself in a hole, the first thing to do is stop digging.’,” Ald. Bill Conway said. “What we can all agree on is the need for important infrastructure spending.”
While he agreed infrastructure spending is required, Conway said the structure of the bond is a problem, because it would allow the city to make only interest payments on the debt for the first 19 years.
“Short term benefits aren’t worth decades of harm,” he said, calling the bond irresponsible and shortsighted. “We don’t have to mortgage our children’s future and saddle them with reckless debt to do it.”
Funded projects include:
- $157.5 million for street repairs and safety improvements
- $115.5 million for new streetscapes
- $108 million for projects chosen by each alderperson to repair infrastructure in wards or to fund local organizations
- $98.1 million to replace and repair the city’s bridges
- $73.8 million to renovate police and fire stations and other city buildings
Here’s how the city council voted:
