In 2016, the City of Chicago revised the Zoning Code to leverage funds generated by new development in and around the Loop to catalyze investment in Chicago’s West, Southwest and South Sides. The Neighborhood Opportunity Fund (NOF) uses these funds to support commercial corridors in Chicago’s underserved neighborhoods. The NOF awards grants to projects that have a catalytic impact on the neighborhood and lead to the construction or rehabilitation of new and existing, publicly accessible, commercial spaces (e.g. grocery stores, retail establishments, or restaurants) or cultural establishments.
