Neighborhood Opportunity Fund (NOF)
chicago.gov
Offers capital development reimbursement grants of up to $250,000 for small businesses and cultural projects located along Chicago's South, Southwest, and West Side commercial corridors. Grants cover up to 75% of eligible construction and renovation costs, with optional technical assistance funding.
Jargon-free version
Helps small businesses and cultural projects in Chicago cover renovation costs. Grants can reimburse up to $250,000 for eligible construction expenses.
Quick Facts
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What Benefits Are Offered?
Capital development grants provided as reimbursement for up to 75% of eligible project expenses, with a maximum grant of $250,000. Grants fund permanent capital improvements for small businesses and cultural projects. Applicants may also qualify for additional funding (an extra 20% for pre-development expenses) for Technical Assistance if using an approved provider.
Who Is Eligible?
Business Size: small
Industries: commercial (office, retail), cultural (museums, theaters, performance venues), non-profit (with on-site commercial component), industrial (with commercial component)
Region: West Side (Chicago), Southwest Side (Chicago), South Side (Chicago)
Other Criteria: Projects must be located on an eligible or priority commercial corridor within West, Southwest, or South Side of Chicago (property eligibility can be confirmed via email or Eligibility Map), Grants fund permanent capital improvements (e.g., new construction, storefront buildouts, facade repair, plumbing, electrical, HVAC, roof repairs, acquisition costs as part of larger projects, soft costs), Work must be initiated after receipt of an NOF conditional award letter for reimbursement, Applicants should have site control of the project property, Property should not have significant issues such as mechanic liens, court orders, or past-due property taxes
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📋What Are the Application Steps & Timeline?
- 📝Steps to Apply
- Create a free account on Submittable.com
- Prepare required documentation
- Submit application online
- Wait for evaluation
- Receive notification of finalist status
- 🌐Application Portal
- https://chicago.gov/NOF
- 📤Submission Method
- online
- 📅Key Dates
- May 16, 2025Application Evaluation DeadlineJuly 2025Announcement of Grant Finalists
- 🔄Intake Type
- rolling
📄What Documents Are Required?
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💰What Expenses Are Eligible?
🤝Is Matching Funding Required?
📊What Are the Reporting Requirements?
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FAQFrequently Asked Questions
This program is available to small businesses in commercial (office, retail), cultural (museums, theaters, performance venues), non-profit (with on-site commercial component) industries located in West Side (Chicago), Southwest Side (Chicago), South Side (Chicago).
This program offers funding up to $250,000.
The application deadline is November 13, 2024.
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