The city has awarded a $54 million grant distribution to 133 recipients in Chicago, and numerous businesses on the South Side were selected.
According to the city, the grants have been awarded to various South Side beneficiaries, including the South Side Community Art Center, HPNC Community Space Expansion, 87th Street Community Space, Mhuri Market & CoWork Space, Volunteers of America of Illinois, BIG Greenway Garden, Little Angels Learning Center, and Cleo's Kitchen.
Deputy Mayor, Samir Mayekar explained that the generous grant will exceed $700 million in total which will allow for multiple businesses and communities to benfit.
The awards provided, which vary from $10,000 to $5.9 million, will benefit the local businesses and communities, particularly in the South Side, and are expected to generate approximately $253 million in construction and development.
"The scale of this investment is completely unprecedented," Mayekar said. "With the 133 finalists announced today, we’re taking the total number of direct economic development grants made under this administration to over 530 projects, representing more than $250 million in grants."
The selected finalists will obtain funds via nine individual City programs that have been integrated into a single application process, such as the Chicago Recovery Plan (CRP) grant streams and the small and large grants of the Neighborhood Opportunity Fund (NOF), as stated in a city press release.
"Collectively, these grants are unlocking more than $750 million in total development based on the overall cost of these projects," Mayekar said. "Those are funds going directly into neighborhoods, not just supporting an equitable economic recovery but helping to build thriving, safe, and sustainable communities for the long-term."
Mayor Lightfoot expressed her gratitude for the funding. She highlighted that it will help local entrepreneurs and create better neighborhoods.
"I am immensely proud of the investments that the City has made in small businesses and nonprofits throughout my administration," Mayor Lightfoot said.
Lightfoot declared on May 2 that 133 small businesses and other deserving organizations have been shortlisted as finalists for City grants exceeding $54 million.
"By issuing these development grants to budding entrepreneurs and organizations who provide essential services and opportunities, we are making an investment in the vitality of our communities," Lightfoot said.
These finalists were picked out of a record-breaking pool of 670 applications received by the Department of Planning and Development earlier this year. As per the City of Chicago, this grant program marks the most significant economic development aid ever offered in the city's history.
"These individuals and organizations do the hard work to make our neighborhoods safer, healthier, and more prosperous and these grants highlight the City's commitment to supporting them,” Lightfoot said.