Applications are open for millions of dollars in grants to support commercial development projects on Chicago’s West, South and Southwest Sides. The Neighborhood Opportunity Fund grants are designed to spur economic activity through new commercial development projects in Chicago’s neighborhoods, supported by unprecedented private investment in Chicago’s downtown. The targeted grants will pay up to 65 percent of total costs for commercial development projects like grocery stores, retail businesses and cultural establishments. Priority is given to projects that align with existing community plans, provide needed goods or services, have the potential to leverage additional private and public investment, and will be economically sustainable. The applications are available at www.neighborhoodopportunityfund.com. Grant-eligible costs include:

• Land acquisition and assembly
• New construction (up to 30 percent of total project costs)
• Building acquisition, demolition and environmental remediation
• Minor site improvements and security measures
• Roofing, facade, and mechanical system repairs
• Architectural, engineering, and financing fees and other soft costs

Projects must be located within eligible areas, which are low-to-moderate income census tracts identified by the DPD pursuant to data from the U.S. Census Bureau and other sources.