An Additional $6.4 Million in Neighborhood Opportunity Fund Grants Proposed for Local Businesses and Organizations
Mayor Rahm Emanuel introduced a proposal to City Council today to support new and improved commercial spaces in North Lawndale, Little Village and Woodlawn with $6.7 million in Neighborhood Opportunity Fund grants.
- Ogden Washtenaw JV LLC would receive a $2.5 million grant for the buildout of three ground-floor retail spaces within the $21.5 million Ogden Commons mixed-use project at 2632-46 W. Ogden Ave. Tenants would include Steak & Shake, Ja’ Grill, and a yet-to-be identified third business.
- SYTE Corp. would receive a $2.1 million grant to renovate an 18,000-square-foot building at 6793 S. Chicago Ave. as its new headquarters. The new complex would include office space and a small business training incubator. Total project cost is $3.7 million.
- Enlace Chicago LLC would receive $550,000 for the construction of a program office and business incubator at 2759 S. Harding Ave. The building would be used to provide legal and immigration services, as well as a business training incubator focusing on food, agriculture, and art. Total project cost is $1.8 million.
The Neighborhood Opportunity Fund uses voluntary payments from downtown development projects to support neighborhood commercial corridors in low- to moderate-income communities on the South, Southwest and West sides. The grants will help new and existing companies improve their facilities, add jobs and enhance quality-of-life amenities for the surrounding neighborhoods.
To date, the City has awarded more than $20 million in grants to nearly 100 local businesses and neighborhood organizations across Chicago through the Neighborhood Opportunity Fund. Projects with grant amounts exceeding $250,000 require individual City Council approval.
More information is available at www.neighborhoodopportunityfund.com.
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