Chicago, IL Community Wealth Building program addresses social inequities with pandemic relief funds
Chicago, IL Community Wealth Building Pilot Inequities
Chicago issued a Request for Proposals (RFP) for providers who can support the $15 million program. This program empowers low-income households through shared asset ownership. Community Wealth Building advances this goal through four pilot areas: worker cooperatives, limited-equity housing cooperatives, community land trusts, and community investment vehicles. Selected vendors support these pilots with services including operational assistance, financial planning, and marketing.
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City of Chicago :: Mayor Lightfoot Launches Community Wealth Building Pilot Program
CHICAGO – Today, Mayor Lori E. Lightfoot, the Office of Equity and Racial Justice (OERJ), and the Department of Planning and Development (DPD) launched the Community Wealth Building Pilot, a $15 million program to create opportunities for low-income residents to build wealth through shared asset ownership. The pilot program, supported by funding from the Chicago Recovery Plan, will address access to business ownership, home ownership, land stewardship, and commercial real estate.
City issues RFP for new $15 million initiative to promote shared ownership | Chicago Construction News
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