The recently approved Chicago Infrastructure Trust won’t replace long-term debt financing, but will allow the city to avoid the controversial act of privatizing public infrastructure, Mayor Rahm Emanuel told guests at a Washington, D.C., think tank on Friday.

Speaking to a group at the Center for American Progress, Emanuel stressed that traditional financing methods like tax-exempt debt won’t become obsolete as a result of his plan to leverage private dollars for a $7 billion package of projects.

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