February 25, 2016
Based on recent downtown construction trends the initiative could produce an estimated tens of millions of dollars in neighborhood improvements over the next several years. Examples of neighborhoods that could directly benefit include Greater Englewood, Auburn Gresham and Garfield Park.
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Mayor Emanuel Announces Major Initiative to Further Drive Neighborhood Development
Chicago Mayor Rahm Emanuel announced an initiative that will generate millions of dollars in new investment into underserved communities throughout Chicago. The proposal will reform existing ordinance to allow developers to obtain additional square-footage for construction projects in the downtown area in exchange for investments to support neighborhoods in need of jobs and economic growth.