Chicago Construction News staff writer
Applications for Chicago’s equitable transit-oriented pre-development (ETOD) grants applications are due Mar. 14. Click the link to apply.
The primary goal of this program is to build the pipeline of shovel-ready, investment-ready ETOD projects that meet community priorities. Funding supplements the ETOD Development Grant program that launched in December 2022 for ETOD proposals that have already advanced through their pre-development phases.
It recognizes that community groups, local businesses, and grass-roots organizations across Chicago are exploring equitable transit-oriented development proposals but may lack the financial resources and technical expertise to move their ideas to development stage.
“While many projects have strong missions and visions, they often need support undertaking the many planning and pre-development activities that are essential for projects to access additional funding and ultimately get built,” the project website states. “Organizations based on the South and West sides, which face systemic barriers to both accessing capital and were disproportionately impacted by the COVID-19 pandemic, are especially in mind.”
Up to $150,000 will be awarded to eligible organizations to execute planning and pre-development activities for ETOD initiatives during a twelve-month period (with the opportunity for extension).
Eligible expenses include:
- Creating a clear project scope
- Hiring a project manager
- Refining design and engineering documents
- Creating detailed project cost estimates
- Establishing a financial proforma
- Confirming the project site is compatible with zoning rules
- Paying for essential due diligence costs (e.g. land title search, legal fees)
Eligible projects:
- Residential real estate projects (e.g. affordable housing, co-operative housing); and
- Commercial real estate projects (e.g. neighborhood retail, community kitchens, neighborhood centers);
- Mixed-use real estate projects (e.g. artist live/work spaces, community hubs)
