CHICAGO — More than a dozen small businesses across the city have been awarded $1.9 million in city funding through its Neighborhood Opportunity Fund program, which aims to revitalize Chicago’s west, southwest and south sides.
The grant program, launched in 2016 by Mayor Rahm Emanuel, channels fees paid by Downtown developers through the neighborhood opportunity bonus into grants for projects along commercial corridors in underserved communities.
About 80 percent of the proceeds from these fees are awarded as grants that support small businesses and cultural projects, including grocery stores, restaurants, service providers and cultural venues in underserved areas, according to Mayor Brandon Johnson’s office.
The grants reimburse up to 75 percent of eligible costs for new construction a