At a flag-raising ceremony in honor of Juneteenth, Mayor Johnson announced a $4.11M investment into community wealth-building to offer communities the opportunity to build financial wealth and prevent displacement. The capital grant program will be administered by Wealth Our Way (WOW), a collaborative initiative developed by Community Desk Chicago (The Desk), which will offer technical assistance and coaching to selected commercial shared ownership models.
“As we celebrate Juneteenth, we are recommitting ourselves to the critical work of repairing past harms through investment and opportunity,” said Mayor Brandon Johnson. “The work of repair and restoration is central to our mission. This is collective work that impacts our entire communities, so we are putting these funds to help build up collective ownership models in neighborhoods that have been shut out for far too long.”
Seeded through a $4.11M City of Chicago investment, the W.O.W capital grant program provides both capital grants and technical coaching to commercial shared ownership models, specifically Community Investment Vehicles (CIVs) and Worker Cooperatives (Work Co-ops)…