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Chicago & Midwest  + South Side  + Finance  |  November 1, 2019
Paul Bubny
By: Paul Bubny

Developer-Funded NOF Turns Focus to South, West Sides

Improvements to Chicago’s Neighborhood Opportunity Fund (NOF) will provide small businesses and local organizations with enhanced access to capital, business training opportunities and other benefits to help revitalize South and West Side neighborhoods, the Lightfoot administration said.

NOF will serve as a key funding tool to encourage investment in the 10 initial neighborhoods participating in the INVEST South/West initiative announced recently in partnership with corporate and community entities.

A total of $30 million in grant funding will be made available beginning in 2020 through 2023 to small businesses on the South and West Sides as part of INVEST South/West. The funding will also be available to potential cannabis dispensaries, and related companies that are considering locations in qualified South and West Side investment areas.

Administered by the city’s Department of Planning and Development, NOF is funded through voluntary payments by downtown development projects in exchange for increased density.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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  • ◦Economy
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