Community Development
Program
COMMUNITY DEVELOPMENT
Program Overview
The Community Development Program is a private community and economic development program for the purpose of connecting M/W/DBEs and workforce with emerging business and career opportunities generated from the massive ONE Central private investment – ultimately achieving measurable results and broader capacity among M/W/DBEs and workforce that can be sustained and leveraged to drive further economic opportunity for the long-term.
Tool Box
1
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Market Assessment & Capacity Analysis
Evaluates targeted business and workforce capacity in the market and identify where opportunities exist for M/W/DBE participation.
2
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Community Outreach & Engagement Program
Establishes a means of communicating M/W/DBE contracting and employment opportunities to the businesses and workers identified during the Market Assessment and Capacity Analysis.
3
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Workforce Database & Qualification Assessment
Identifies and evaluates M/W/DBE employees based on their industry and respective qualifications to connect them with contractors and other businesses in the Chicagoland Region.
4
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Contractor / Service Provider Database & Qualification Assessment
Connects owners, developers, contractors and other businesses with M/W/DBE businesses in the Chicagoland Region - with the goal of growing capacity in the market by increasing M/W/DBE participation.
5
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Targeted Business Participation Program
Provides the tools to manage, award and monitor M/W/DBE contracting during all stages of design and construction to ensure that goals for each phase of the project are established and achieved to facilitate maximum M/W/DBE participation.
6
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PROJECTrac Management System
A Proprietary project / financial management operating system used to mitigate risk, track progress and measure contracting and financial outcomes for all segments of the work, with specific programs for M/W/DBE business and workforce participation.
7
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Build Bank
A finance program designed to eliminate barriers to entry and provide access to working capital and commercial financing for M/W/DBEs who have limited access to these resources.
8
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Equity Resource Center
Provides resources, support and experience of the EquityWORKS partnering organizations with the goal of equipping targeted businesses with the technical and financial assistance they need to succeed – whether that’s help with MBE/WBE/DBE certification, project bidding, cash flow management, risk management, or building other skills.
COMMUNITY DEVELOPMENT
Outcomes
30% MBE Business Participation
10% WBE Business Participation
10% Growth in M/W/DBE Marketwide Business Capacity in 5 Years
BuildBank - Supports Growth in M/W/DBE Business Capacity
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$50 Million Working Capital Fund for M/W/DBEs
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100% Bonding for M/W/DBE Businesses
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100% Insurance for M/W/DBE Businesses