July 22, 2020

Neighborhood Opportunity Fund Grant Proposed for Little Village Incubator

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A $1.5 million Neighborhood Opportunity Fund grant introduced to City Council today by Mayor Lori E. Lightfoot would help create a cross-cultural business incubator in Little Village for start-up companies, artists, and multi-media professionals.

The grant would be used by the Little Village Chamber of Commerce and Little Village Community Foundation to rehabilitate a vacant, three-story building at 3523-25 W. 26th St. as a co-working office space, a shared commercial kitchen and a café. The $3.5 million, 12,000-square-foot project would create 15 permanent and 28 construction jobs and help existing and start-up professionals to improve their business skills.

The Neighborhood Opportunity Fund allocates voluntary zoning fees from downtown construction projects to support neighborhood commercial corridors in low- to moderate-income communities on the South, Southwest, and West Sides. Projects with grant amounts exceeding $250,000 require City Council approval.

 

 

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