The city of Chicago's recently announced $10 million economic development program seeks projects that will stimulate neighborhood economies, Department of Planning and Development Commissioner Maurice Cox said.

The city recently announced that it was reaching out to "community organizations, mission-driven developers, and businesses" to submit applications for the Equitable Transit-Oriented Development grant program.

"The grants will help community stakeholders to shape their neighborhoods by improving walkability to corner stores, transit options, affordable housing and other pedestrian-oriented amenities," Cox said, according to the news release. "We are inviting proposals from community not-for-profits, mission-driven developers and small businesses to create spaces that will ensure a sustainable and resilient recovery in neighborhoods across Chicago, far beyond the COVID-19 pandemic."

Applicants have until Friday, Feb. 24, to apply for up to $250,000 grants for affordable housing, mixed-use or small-business proposals and until March 14 to apply for pre-development grants of up to $150,000.

The grants are funded by Mayor Lori Lightfoot's Chicago Recovery Plan. 

The city is looking for projects that address affordable housing to mixed-use developments, according to the news release. The program also seeks initiatives such as healthy food retail, community business ownership "and other equity-achieving proposals" within walking distance of CTA and Metra stations or near high-frequency buses, the news release said. 

Program goals include investments near transit "in disinvested communities," preventing community displacement in areas facing increasing housing costs and promoting affordable housing near transit in low-affordability communities, the news release said.  

"In order to realize my administration's vision for an equitable and inclusive Chicago, we must significantly improve the ways we invest in our neighborhoods and address the wrongs of the past," Lightfoot said in the release. "By making funding available directly to community organizations and local businesses, we are not only being true to our values but also supporting developments that are accessible and transformational for our communities. I look forward to seeing the proposals drafted by our community members turn into tangible, equitable, and inclusive developments through this funding."