Emanuel to be sworn in as Chicago's new mayor

By DEANNA BELLANDI and DON BABWIN | May 16, 2011 | 4:44 AM EDT

FILE - In this April 7, 2011 file photo, Chicago Mayor Richard M. Daley, left, and Mayor-elect Rahm Emanuel share a moment at a Chicago White Sox game at U.S. Cellular Field in Chicago. When the former White House chief of staff takes over Monday, May 16, a new vibe will emanate from City Hall. Whereas Daley preferred a low-key social life and tended toward the trench coat look, Emanuel is frequently spotted in jeans in the city’s vibrant arts and cultural scene, presenting what promises to be a hipper image for the city. (AP Photo/Charles Rex Arbogast, File)

CHICAGO (AP) — Former White House chief of staff Rahm Emanuel will soon be sworn in as Chicago's first new mayor in two decades.

Vice President Joe Biden is expected to attend the Monday morning inauguration ceremony at a popular downtown park.

Afterward, Emanuel will head over to City Hall and, for the first time since he was elected in February, walk into the fifth-floor office that was Richard M. Daley's lair for 22 years.

Emanuel inherits a city with big money problems. His transition team has projected a $700 million budget shortfall next year.

And, thanks to some controversial decisions by Daley such as privatized parking meters, Emanuel has limited avenues to fund efforts to improve schools and repair the city's aging infrastructure.