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.
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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