The city has applied for an additional $800 million in competitive grants under the program.
Daley says by working with philanthropic groups, Chicago is stretching those dollars.
"We're really trying to work it out so we're not competing against each other. It's a long-range goal, not a one year or two. It's a two or three or five years, which I think is essential in dealing with this economy," said Daley.
The mayor says under the stimulus program, the city has, among other things, completed two street resurfacing projects purchased 39 buses for Chicago Transit Authority and created more than 7,000 summer jobs for young people.
