July 2, 2020
Chicago’s Department of Planning and Development announced 32 project finalists for $5.4 million in Neighborhood Opportunity Fund grants. Nearly 90% of the award finalists are minority-owned businesses, and half are located along commercial corridors being targeted through Mayor Lori Lightfoot’s INVEST South/West initiatives.
“All that we’ve witnessed and experienced over the past few months shows us that our neighborhoods need economic anchors now more than ever before,” Mayor Lightfoot said. “These grants will help ensure that the South, Southwest and West sides of the City have viable, sustainable businesses that grow and thrive long after the current health crisis ends.”
Valued at more than $12.6 million in total project costs, the selected rehabilitation and new construction projects were among 325 applicants to the Neighborhood Opportunity Fund during an application round this winter. Final grant amounts will be determined as projects are refined in the coming weeks and months.
For comments, questions or concerns, please contact Paul Bubny