equity in investment - chicago · 2020-03-05 · equity in investment “the issue here isn’t a...

Department of Planning and Development | October 21, 2019

EQUITY IN INVESTMENT

“The issue here isn’t a lack of government funding. It’s a

lack of multiplying public investment with private

investment. That is something that we will change.”

- Mayor Lightfoot

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EQUITY IN INVESTMENT

Chicago is Inequitable

VERY HIGH INCOME

HIGH INCOME

MIDDLE INCOME

LOW INCOME

VERY LOW INCOME

1970 2017

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VOORHEES INSTITUTE, UNIVERSITY OF ILLINOIS AT CHICAGO

EQUITY IN INVESTMENT

Hyde Park

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EQUITY IN INVESTMENT

Fulton Market

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EQUITY IN INVESTMENT

S Michigan Ave

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EQUITY IN INVESTMENT

47th St and AshlandAve

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EQUITY IN INVESTMENT

W Ogden Ave

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OBJECTIVES

AMPLIFY LOCAL ASSETS

FOCUS PUBLIC INVESTMENTS TO SUPPORT

LOCAL PRIORITIES

DRIVE PRIVATE INVESTMENT TO BUILD LOCAL

WEALTH

INTEGRATE NEW STRATEGIES FOR PUBLIC

SAFETY

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LEVERAGE

$250M IN STRATEGIC TIF

AND

NEIGHBORHOOD

OPPORTUNITY

FUND

ALLOCATIONS

Strong local community partners

Existing community plans

Access to transit

Existing neighborhood services and anchors

Concentration of business licenses

FOCUS ON STRENGTHS:

EQUITY IN INVESTMENTAREAS OF GREATEST NEED

CONCENTRATED DISADVANTAGE

(BY CENSUS TRACT)11

EQUITY IN INVESTMENTFOCUS ON 10 NEIGHBORHOODS

Austin

Humboldt Park

North Lawndale

New City

Quad Communities (North Kenwood,

Oakland, Grand Boulevard, Douglas Park)

Englewood

Auburn Gresham

South Shore

South Chicago

Roseland(Pullman & West Pullman)12

POTENTIAL PROGRAM EXPANSION

PRIORITY NEIGHBORHOOD

CONCENTRATED DISADVANTAGE

FUTURE PHASES WILL BE FOCUSED

ON AREAS OF CONCENTRATED

DISADVANTAGE

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AMPLIFYLocal assets

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LOCAL ASSET

Laramie State Bank

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AMPLIFY LOCAL ASSETS

South Shore

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FOCUSPublic Investments to support

LOCAL PRIORITIES

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DRIVEPrivate investment to build

LOCAL WEALTH

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PROPOSED DEVELOPMENTGREATER AUBURN GRESHAM DEVELOPMENT CORPORATION

839 W. 79th St

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PROPOSED DEVELOPMENTGREATER AUBURN GRESHAM DEVELOPMENT CORPORATION

839 W. 79th St

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INTEGRATENew strategies for public safety

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HOMICIDES (10/1/2018-10/1/2019)

AREAS OF CONCENTRATED DISADVANTAGE

“EVEN IN THE MOST CRIME-

PLAGUED, MOST

ECONOMICALLY DISTRESSED

NEIGHBORHOOD, THERE ARE

PEOPLE OF GOODWILL THERE.

THERE ARE GOOD THINGS

THAT ARE HAPPENING.”

-MAYOR LIGHTFOOT

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NEXT STEPS

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SOUTH

CENTRAL

NORTH

WEST

FAR SOUTH

SOUTHWEST

NORTHWEST

CITYWIDE

CITY PLANNERS DEDICATED TO REGIONS

INVEST South|West

COMMUNITY ADVISORY PANELS

INCREASED CORPORATE COMMITMENTS

EQUITY IN INVESTMENTMAINTAIN CITYWIDE FOCUS

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NEXT STEPS

ENGAGE ALDERMEN AND LOCAL COMMUNITY LEADERS

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NEXT STEPS

REINFORCE PRIORITIES FROM EXISTING PLANS

KICKOFF EVENTS IN 10 PRIORITY AREAS

NEXT STEPSTIMELINE FOR IMPLEMENTATION

PLANNING

IMPLEMENTATION

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