02/07/2009 05:12 am ET Updated May 25, 2011

Daley Going Directly To Feds For Funds, Bypassing Springfield

Chicago Mayor Richard Daley says he will make an end-run around state government when it comes to seeking the city's share of the economic stimulus plan being crafted by President-elect Barack Obama.

Daley said Tuesday he has no choice but to go directly to the federal government for funds. He said he can't allow Springfield to take the money, hold it for a time before releasing it in the middle of winter, when nothing can get done.

Daley would not say how a city with a major budget shortfall will come up with the matching funds needed to qualify for federal grants.

Last week, Chief Financial Officer Paul Volpe acknowledged Chicago finished 2008 $31 million deeper in the hole than previously thought because of declining revenues. He said the city might tap into a "rainy day fund" created when Chicago parking meters were privatized.