CHICAGO — The newly-established Chicago Infrastructure Trust has lined up pro bono advisory help from Public Financial Management Inc. and legal assistance from Kirkland Ellis LLP as it gears up to assess its first project financing later this year.

Mayor Rahm Emanuel unveiled plans for the first-of-its-kind local government trust earlier this year to create an alternative financing vehicle to leverage private investment for special projects with defined revenue streams. The administration contends it's needed to offset dwindling state and federal funds and preserve its strained bonding capacity for more routine infrastructure work and projects.

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