City Hall announced a new program called “Opportunity Areas.”

As part of a holistic and strategic vision to foster and seize upon growth and development in neighborhoods across Chicago, Mayor Rahm Emanuel today announced nearly $3 billion in private and public development projects in seven targeted Chicago neighborhoods through a new “Opportunity Planning” initiative. The neighborhoods include Englewood, Pullman, Rogers Park, Uptown, Little Village, Bronzeville, and the Eisenhower Corridor.

“Each of these areas is unique and full of potential and the City will play an important role in supporting their growth. Economic development and a neighborhood’s success are reliant upon the support and strategic vision these ‘Opportunity Area’ plans provide,” said Mayor Emanuel. “The City of Chicago in coordination with the private sector has a vital role to play to help communities showcase and support their entertainment, economic and cultural assets.  Only then will Chicago be able to live up to its potential as the global city that it should be.”

Privatization alert! The Chicago Reader has been on this story for years. The Huffington Post notes the mysterious launch of a second “progressive” City Council caucus a day AFTER Aldermen announced the formation of a progressive caucus that would be closely monitoring privatization.