What Can Be Funded?
For all Neighborhood Opportunity Fund projects, costs that can be funded by grants must generally be related to new construction or the rehabilitation of existing buildings. This includes:
- Land acquisition and assembly
- Building acquisition, demolition and environmental remediation
- Roofing, façade repair and mechanical system repairs
- Architectural and engineering fees
- Financing fees (related to securing a loan or other capital)
- Minor site improvements, such as fencing or planters, when a part of an eligible project
- Other soft costs associated with eligible hard costs
What Cannot Be Funded?
Projects that receive Neighborhood Opportunity Fund grants must have a catalytic impact on the neighborhood and lead to the development of new commercial spaces or cultural establishments. As a result, the following costs are not eligible for Neighborhood Opportunity Fund grants:
- Residential dwelling units or the residential portion of a mixed-use building
- Minor repairs and improvements, such as painting
- Repairs or improvements that are required to bring a building into compliance with the City of Chicago’s Building Code
- Support programs or services
- Travel expenses or any lodging/hotel expenses