CBB NEWS

The U.S. Conference of Mayors and President Clinton Announce New Task Force to Promote Use of Private Investment in Boosting Public Infrastructure and Economic Growth

Clinton Global Initiative and 17 Leading Mayors Join in Cross-Sectional Approach to Spur Local Economies

Chicago Mayor Rahm Emanuel to Serve as Chair

Washington, D.C. - Today, the Clinton Global Initiative (CGI) and the United States Conference of Mayors (USCM) announced the launch of the Infrastructure Financing for Cities Task Force (IFC Task Force) which will address critical issues facing American cities. President Bill Clinton will help lead the effort and Chicago Mayor Rahm Emanuel will serve as chair of the Task Force. Leveraging USCM leadership and CGI's model of solutions-oriented cooperation across sectors, the IFC Task Force will support mayors in attracting investment into public infrastructure projects that encourage economic growth.

“The Infrastructure Financing for Cities Task Force is committed to creating jobs by ensuring that communities coast-to-coast have the necessary infrastructure to compete in the global economy,” said President Clinton. “I look forward to working with these dedicated, far-sighted mayors to achieve that goal.”

As chair, Mayor Emanuel will lead the Task Force and coordinate with the USCM to push infrastructure as a top agenda item at the national level. Mayor Emanuel, for whom infrastructure is a key and ongoing focus, launched the Chicago Infrastructure Trust alongside President Clinton in the spring of 2012. He previously worked on national approaches for infrastructure in both the Clinton and Obama Administrations.

“A sound infrastructure is crucial to driving job creation and giving families the opportunity to pursue brighter futures for their children and I am very pleased that the Conference of Mayors is making infrastructure development a priority,” said Mayor Emanuel. "I know I speak for each of the mayors on the Task Force when I say that we look forward to working with and gaining insight from President Clinton on this critical issue, so we can make real progress towards sound infrastructure nationwide."

“Improving infrastructure in cities has been a top priority for the U.S. Conference of Mayors and we are proud to partner with the Clinton Global Initiative on this important issue,” said Philadelphia Mayor and USCM President Michael Nutter. “Mayor Emanuel is the perfect person to lead the nation’s mayors through this new task force and help us accomplish what is necessary to strengthen the backbone of this nation, our country's infrastructure.”

Thus far, 17 mayors with a combined constituency of more than 17 million people have joined the IFC Task Force. Collaborating with CGI – which brings together leaders from business, government, labor, and civil society to address the world’s most pressing challenges – the mayors will explore solutions to current obstacles to public infrastructure investment, look at existing models of leveraging private capital to finance projects such as road and water system improvements, and deliberate innovative investment models such as the creation of an urban infrastructure bank.

Members of the IFC Task Force include:
Chicago Mayor Rahm Emanuel, Chair
Indianapolis Mayor Greg Ballard
Jacksonville Mayor Alvin Brown
Oklahoma City Mayor Mick Cornett
Louisville Mayor Greg Fischer
Charlotte Mayor Anthony Foxx
Denver Mayor Michael B. Hancock
New Orleans Mayor Mitch Landrieu
San Francisco Mayor Edwin Lee
Redmond, WA Mayor John Marchione
Philadelphia Mayor Michael Nutter
Houston Mayor Annise Parker
Oakland Mayor Jean Quan
Baltimore Mayor Stephanie Rawlings-Blake
Atlanta Mayor Kasim Reed
Mesa, AZ Mayor Scott Smith
Los Angeles Mayor Antonio R. Villaraigosa

Peter Orszag, Vice Chairman of Global Banking at Citigroup and former Director of the White House Office of Management and Budget, and Lois Scott, Chief Financial Officer of the City of Chicago, will serve as advisors.

This Friday, the Task Force will hold its first meeting in Washington, D.C. at the U.S. Chamber of Commerce and Center for American Progress. CGI has been working with its members and key stakeholders from organized labor, the Center for American Progress and the private sector to drive further investment into public, job-creating infrastructure improvements. As part of this work, President Clinton, with support from the Center for American Progress, convened six mayors at CGI America in June 2012 and seven in Tarrytown, N.Y. in August to discuss strategies for using private funds to pay for city projects. Tomorrow, President Clinton will also participate in a ceremony celebrating the ongoing progress on a landmark CGI America Commitment to Action made in 2011 by the AFL-CIO, the American Federation of Teachers, a broad coalition of public sector unions, the Building and Construction Trades Department of the AFL-CIO and the Center for American Progress to encourage the investment of over $10 billion into the reconstruction of America’s built environment. The commitment has reached more than $2.7 billion in progress since its announcement.

Prior to bringing together government, private sector, and civil society leaders through CGI to advance and implement solutions for more resilient cities, President Clinton made infrastructure a priority in the White House. During his two terms as U.S. President, he raised America’s nondefense spending for major public physical capital investments to a total of $157.6 billion – a 33% increase over the previous eight-years.

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