Brandon Johnson, Mayor | Wikipedia
Brandon Johnson, Mayor | Wikipedia
A $2.5 million grant from the Neighborhood Opportunity Fund (NOF) has been approved by the City Council to support the redevelopment of a mixed-use building at 1210 W. 59th St. in Englewood. The funding will help finance a $6.4 million project led by the Resident Association of Greater Englewood (R.A.G.E.), called The Re-Up.
The planned development will include a Majani's restaurant, a training facility for E'Clat Security, and office space for R.A.G.E., according to city officials.
The project, which covers 7,950 square feet, also received approval for a Cook County Class 7(b) property tax incentive that is expected to provide approximately $208,842 in savings over twelve years.
According to city sources, the Neighborhood Opportunity Fund uses fees collected from downtown construction projects to invest in commercial corridors on Chicago’s South, Southwest, and West sides. Grants larger than $250,000 require approval from the City Council.
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