CHICAGO (WBBM NEWSRADIO) -- Mayor Lightfoot, along with the Department of Planning and Development, announced that Chicago Recovery Plan community development grants are being made available starting Thursday to Chicago entrepreneurs, small businesses and developers, with the initial round open through January 2022.
The community development grants are part of the Chicago Recovery Plan’s ambitious $1.2 billion strategy for equitable economic recovery and support for thriving and safe communities.
“Community development is essential for creating thriving and safe communities on our road to an equitable economic recovery," said Mayor Lightfoot, in a statement. "These grants will provide much-needed support to existing and new businesses, spurring economic activity across our city in tandem with our continued investments through initiatives like INVEST South/West. I'm pleased we're keeping our promise made through the Chicago Recovery Plan to invest in our residents and communities."
To be administered by the Department of Planning and Development, the application process will consider a diverse array of improvement projects, including storefront upgrades; large development proposals with entertainment, retail, and dining options; and projects that create spaces with public amenities. According to the Mayor's Office, projects may apply for the small grant program up to $250,000 or the large grant program up to $5 million.
“By investing in neighborhoods, the grants will bring new businesses and entertainment options to Chicago’s commercial corridors, help existing businesses stabilize or grow, and preserve or create hundreds of jobs,” DPD Commissioner Maurice Cox said in a statement.
Preferred applications will seek to create:
• Catalytic projects with a strong local impact.
• Projects in historically disinvested areas that build upon existing efforts such as Mayor Lightfoot’s INVEST South/West Initiative and community safety initiatives.
• Commercial, mixed-use, and light manufacturing projects that create jobs and services.
Projects that demonstrate momentum and are expected to break ground in 2022 will also be prioritized, the Mayor's Office said. Grant funding can be used for pre-development, renovation, and new construction expenses, up to 75 percent of total project costs. Purely residential projects are not eligible for this round of funding; further funding opportunities for residential projects are expected to be announced next year.
Applications will be accepted on a rolling basis. The first-round application deadline is Jan. 31, 2022, followed by a second-round application deadline of March 10, 2022. Applicants who are not prepared to apply for either round are encouraged to review all relevant materials and prepare to apply for a third application round in the summer, the Mayor's Office said.
For more information on the Chicago Recovery Plan community development grant application, visit the Chicago Recovery grant application website. An informational webinar will be held on Thursday, Jan. 6 at noon, and a recording of the webinar will be posted online.
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