Pre-Development Fund Grant

Overview

_NOTE: The Trust will review project scope submissions against a defined set of criteria. Only submissions that meet these criteria will be eligible for funding. Applicants will be notified approximately two weeks after the project scope deadline if their project will be invited to a full application._

Pre-Development Fund

Through this program, the Trust seeks to support neighborhood-scale development projects that catalyze economic growth and create thriving neighborhoods where residents can stay and grow their wealth with improved quality of life and well-being, regardless of income.

Eligibility

_You can learn more about this opportunity by visiting the funder's website._

* The Pre-Development Fund is exclusive to projects in Cook County.

* The Pre-Development Fund defines a community developer as a nonprofit organization or for-profit company that administers real estate development projects in accordance with the values, principles, and plans of the community in which the projects are occurring.
* For-profit community developers are eligible to receive a grant from the Pre-Development Fund provided annual revenues are less than $10 million, the company has a positive historical track record of working in communities of color, and the company secures a nonprofit fiscal sponsor to submit the application.
* Property acquisition expenses may be eligible for funding on a case-by-case basis. Projects seeking funding exclusively for acquisition expenses will not be considered.
* Qualified Expenses:
* Examples include:
* Architect and engineer services (planning, conceptual design, schematic design and/or structural testing)
* Other consultants (e.g., development consultants)
* Environmental expenses (e.g., Phases I/II, Hazardous Materials Survey, Remediation Plans)
* Legal expense (e.g, zoning, finance, acquisition)
* Market study to confirm the real estate use
* Site development project manager (third-party cost only)
* Third-party community engagement and planning (feedback and input directly related to project site)
* Fiscal sponsor fees

Ineligibility

* The Pre-Development Fund is for projects at the pre-development stage.
* Activities that fall in the planning stage (too premature) or construction stage (too advanced) will not be eligible
* The Pre-Development Fund will not make grants to projects that are exclusively social services, supportive housing, charter schools, workforce development facilities and other critical needs uses