Chicago Construction News staff writer
The City of Chicago is accepting applications for small, medium and large Community Development Grant (CDG) awards, promising financial support for construction and rehabilitation projects.
With proceeds from the 2024 Housing and Development Bond and other funding sources, grants will support a variety of eligible, business-related investments that create and maintain jobs and quality-of-life improvements for local residents.
Applications are open to business owners, property owners, non-profit organizations, community developers and entrepreneurs.
The multi-tiered system will fund small projects with grants up to $250,000, while larger works could receive funding up to $5 million.
The city is looking for projects in a range of sectors including office spaces, retail ventures, cultural hubs, light industry, and multipurpose structures, however, there’s a ticking clock, with applications for small grants due by the morning of Nov. 8 and the larger allocations requiring submissions before the night of Feb. 14, 2025.
The DPD maintains evaluation standards to ensure the funds lead to significant impacts, and they’ll be peering at more than just the bottom line, delving into location perks, site traits, prospective uses, and the nitty-gritty of documentation and funding confirmations, but it’s not all about the money and red-tape, the DPD will also assess projects through the lenses of zoning conformity, design appeal, and the conservation of Chicago’s historical patrimony, as per the City of Chicago.
Details, submission guidelines and application forms are available here.
Funding Levels:
- Small: Up to $250,000 for office, retail, light industrial and mixed-use projects.
- Deadline:11:59 a.m., Nov. 8 – Learn more and apply
- Medium: $300,001 to $5 million for office, retail, cultural, industrial, institutional and mixed-use projects.
- Deadline:11:59 p.m., Feb. 14 – Learn more and apply
- Large: $5 million and up for office, retail, cultural, industrial, institutional and mixed-use projects.
- Deadline: 11:59 p.m., Feb. 14, 2025 – Learn more and apply
