Friday, September 20, 2024 | View in browser
City Is Awarded $985,000 Grant from the U.S. Department of Transportation
Evanston, IL—The U.S. Department of Transportation has awarded the City of Evanston a $985,000 Innovative Finance and Asset Concession Grant. This competitive transit-oriented development grant will be used to begin implementing the recommendations of the Putting Assets to Work (PAW) strategy, which was adopted by City Council last spring.
The grant will allow City staff to leverage local, regional, and national real estate and urban planning expertise to implement the PAW recommendations. This will include an extensive community engagement process coupled with market-driven revenue opportunities for Evanston taxpayers.
"The City of Evanston has ambitious goals in the areas of affordable housing, sustainability, and community development. We also have tremendous assets. With this grant, we will now have the tools we need to use those assets to realize our goals. I'm proud of this significant recognition of our innovative spirit and excited about what we'll be able to accomplish," said Mayor Daniel Biss.
Putting Assets to Work Partnerships
Over the last year, the City partnered with the Government Finance Officers Association (GFOA) and Urban 3 to receive recommendations and strategic guidance. A comprehensive analysis was conducted to develop the PAW playbook, which comprises a set of recommendations to assist the City in strategically identifying assets for potential revenue generation.
Additionally, the Putting Assets to Work principles will be utilized to assist the City Council in achieving its 2024-2025 Council goals: fostering economic growth, increasing affordable housing, and assuring that City assets are utilized to achieve CARP goals.
Putting Assets to Work (PAW)
PAW, spearheaded by Ben McAdams, a former U.S. Congressman and GFOA Fellow, aims to help empower local leaders to unlock the hidden potential within their communities. "PAW is about helping local leaders uncover the real and significant value that may be hiding in plain sight. Every local government holds immense amounts of property, structures, and other assets that they may not know how to fully utilize or, in some cases, may not even realize they own. PAW is a process where we help them understand exactly what they have, what it's worth, and how that value can be utilized for any number of local priorities,” explains McAdams.
For more detailed information on the Putting Assets to Work (PAW) initiative, visit the website.
For more information, please call/text 847-448-4311. For convenience, residents may simply dial 3-1-1 in Evanston.
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Media Contact: Cynthia Vargas
cvargas@cityofevanston.org
Phone: 847-877-7223
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