Business Affairs and Consumer Protection (BACP) Economic Recovery
The Chicago Recovery Plan (CRP) is the City’s plan to amplify once-in-a-generation federal funding to create an equity-based investment strategy to catalyze a sustainable economic recovery from the COVID-19 pandemic.
The funding under the Chicago Recovery Plan, which includes funding from the American Rescue Plan Act (“ARP”) and over $600 million in local bond funds, is allocated alongside all other available resources in the City budget to maximize this opportunity over the next 3-5 year funding period. The initiatives and strategic priorities that make up the Chicago Recovery Plan were a result of several stages of community engagement and input during the 2022 budget development process.
The Department of Business Affairs and Consumer Protection (BACP) is responsible for distributing approximately $50 million of the CRP to support the equitable economic recovery of Chicago. BACP will focus on three core areas.
Small Business Support
Small businesses in commercial corridors were hit hard by the Covid-19 pandemic as economic activity that was relied on to generate sales was severely impacted. BACP will provided funding to local community, economic development, and not-for-profit organizations to support activations in vacant storefronts across the city.
Non-Profit Capacity Building
Nonprofits operating in low-to-moderate income areas and those with budgets less than $1M were disproportionately impacted by Covid-19. Many saw decreased revenue and/or increased costs. BACP will provide funding to multiple for-profit and/or non- profit organizations to design and implement technical assistance and capacity building services for disproportionately impacted nonprofit organizations.
Neighborhoods that are predominantly low- income communities have less access to healthy food and experience greater food insecurity and food-related illnesses. This issue has been exacerbated by the COVID-19 pandemic, which has led to increases in food insecurity across the nation and in Chicago. (BACP) will provide funding to one nonprofit organization to serve as a lead delegate agency for the Community Growers Program.