Richard M. Daley, who served six terms as mayor of Chicago from 1989 to 2011, was one of the first big-city mayors to focus on sustainable development. Some of his projects, such as the development of Millennium Park, flourished. Others are more likely to be remembered as flops — Chicago taxpayers may lose money on a solar-power deal Daley negotiated, and his administration spent millions of dollars on recycling initiatives that went nowhere.
Two years after leaving office, the longtime mayor is using his hard-won experience to head up a new company — launched by his investment firm, Tur Partners — that will help cities pursue money-saving infrastructure investments. Cities that agree to join The Sustainability Exchange, or TSE, will get a free analysis of their assets and potential projects, and will share information with other member cities. TSE will alert vendors when a city is planning a request for a proposal. And because the company is low-profit instead of nonprofit, when a city or region decides to go ahead with a project, TSE will take a cut of the savings the city re... Read more