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Mayor Rahm Emanuel and City Colleges of Chicago chancellor Cheryl Hyman made a splashy announcement today of a $479 million, five-year plan for capital improvements to the City Colleges, including $251 million for a new Malcolm X College campus that’ll consist of two buildings and a 1500-car parking ramp, to be built just south of the United Center.

They didn’t mention this, but that’s about half of what the CCC had budgeted in the five-year capital plan it submitted last year, along with its 2012 budget. According to that plan, CCC had “identified $1.0 billion in capital needs.” Malcolm X alone would have received $336 million. Another $104 million would have gone into improvements in the district offices.