Below is a list of resources for potential applicants to the Chicago Stimulus Package Grant program, which provides the city with additional opportunities to invest in catalytic local development, expanding existing investments and supporting the Department of Planning and Development (DPD).
Chicago Stimulus Community Development Grants Information Session
The event will take place on Zoom at noon on Thursday, January 6, 2022. Registrations are open now.
A video recording will be posted on this page after the event.
Office of Consumer Affairs and Protection (BACP):
Improve project preparation
The first step in undertaking a project is to have control of the project site and to be able to show proof of that control of the site or to be engaged in the process of obtaining control of the site. The City recognizes that for those who do not already own the property, obtaining control of the site prior to submitting an application can be a significant barrier, so that formal screening is not required at the time of application.
However, applicants must be able to provide documentation demonstrating that they are working with the seller or owner of the property to ensure control. Although the grants can be used to renovate real estate, it is unlikely that a project property that has significant issues, such as mechanical liens, court orders related to building code violations, or significant overdue property taxes, or selected for a grant.
Here are some resources available to help with project preparation:
Demonstrate financial feasibility
Applicants should be able to itemize the total cost of the project, including material costs (e.g. mechanical building systems and repair of facades), ancillary costs (e.g. architectural fees) and construction costs. acquisition, if applicable. Once the total project cost has been calculated, applicants should also be able to demonstrate that they are funding their share of the project costs, in addition to and outside of the community development grant.
The City is aware that funding is often a challenge and that in reality it may not be finalized at the time of application. Successful applicants identify the amount of funding needed and have reflected on how to fill funding gaps. Applicants who have not secured funding sources for their share of the project costs should be able to identify a strategy to close the funding gap.
Here are some resources available to help with financial feasibility:
Applicants should show construction offers and / or detail how the estimated construction costs are justified. It’s a good idea to speak with general contractors before applying to understand the requirements, process, and cost estimates. Most, if not all, grant projects will require building permits from the city of Chicago. It is therefore important to understand the process of obtaining permits, construction and inspection.
Here are some resources available to help with construction planning:
* Although financial support for the NOF Technical Assistance Program is only available to finalists and recipients selected by the NOF, applicants for Community Development Grants may wish to contact these Consultants prior to applying in order to better understand the services they provide. Applicants can work with these organizations outside of the NOF program if they wish (note that the consultant’s fees must be paid by the applicant).
Catalytic impact display
The Community Development Grants program uses existing community plans as well as input from elected officials and community stakeholders to identify projects that meet a community need and are desired by residents. Applicants for a grant should understand the local community area and be able to talk about how their project could improve strengths and opportunities in the neighborhood and / or mitigate weaknesses or threats in the neighborhood.
Here are some resources available to help you manage the impact of your project:
It is important to research and develop a business plan before embarking on a new business or making a large investment in an existing business.
Here is a selection of resources on writing business plans, calculating your start-up costs, or developing financial projects, including income statements, balance sheets, and cash flow statement. For more information or one-on-one coaching, we recommend using the city resources listed above.
Business support from the Department of Commercial Affairs and Consumer Protection (BACP)