Thousands of Cook County residents could soon receive payments of $500 per month for two years under a new guaranteed income pilot program launching this year.
The Cook County Promise Guaranteed Income Pilot, announced by Board President Toni Preckwinkle Wednesday, will offer payments to 3,250 eligible area residents.
Applications for the program are expected to open in the fall, with payments set to begin by winter 2022, according to the county.
Eligibility requirements for the program include:
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- You are aged 18 or older;
- A resident of Cook County;
- Your household income is at or below 250% of the federal poverty level or less; and
- Neither you nor anyone else in your household are participating in another guaranteed income pilot. This includes the City of Chicago’s Resilient Communities guaranteed income pilot.
Residents from both Chicago and Cook County suburbs will be allowed to apply, the county said, but the "the majority of the participant pool will be comprised of suburban residents." Only one application per household is allowed.
Once the application window has ended, eligible residents will be entered in a lottery.
Chicago recently launched a similar program for city residents.
The Chicago Resilient Community Pilot, an assistance program that provides lower income Chicago households $500 per month for 12 months, ended its application process on Friday.
The program will select 5,000 households via a lottery to receive the funds. The lottery is designed to prioritize those living in poverty and communities with preexisting economy hardship, according to the city.