14 South, West Side Businesses Get 1.9 Million Boost Through Citys Neighborhood Opportunity Fund

Chicago’s Neighborhood Opportunity Fund program has granted $1. 9 million to over a dozen small businesses, focusing on revitalizing underserved neighborhoods in the city. The program, initiated in 2016, channels developer fees into grants that reimburse up to 75% of eligible costs for construction, renovations, and other business-related expenses. Among the recipients are GCYC Food Sovereignty Hub and Wagner’s Bakery, with improvements expected to generate a total investment of $2. 8 million.

Mayor Brandon Johnson praised the initiative as a commitment to fostering economic growth and community leadership. The grants are awarded based on criteria like project readiness and neighborhood needs, as stated by DPD Commissioner Ciere Boatright. A 2022 audit by the Office of the Inspector General confirmed the program's effective management but suggested the city enhance its outcome measurement practices. This funding initiative aims to create a critical mass of improvements, bolstering neighborhood vitality. Applications for future grants are accepted on a rolling basis, encouraging ongoing local investment.