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JP Morgan Chase plans to expand home lending for Black and Latino families while PepsiCo will give more money for job training, officials announced.
Representatives from JP Morgan Chase and PepsiCo made the pledges during a news conference with Mayor Lori Lightfoot and the Chicago Community Trust, a leading philanthropic organization.
JPMorgan Chase promised to increase homeownership among 3,000 Black and Latino families “in the Chicago region through an additional $600 million in home lending to these families over the next five years,” officials said.
The bank also will expand low down payment programs and grants for home buying, including closing cost assistance.
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Officials also said PepsiCo will be giving $500,000 for job training and development, though it wasn’t clear when or where. The soft drink giant also is giving $1 million
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In red zones, a maximum of 10 people at allowed at a religious gathering, mass gatherings are prohibited, only essential businesses are allowed to remain open, schools are closed, and takeout dining is the only option.
Orange zones are considered surrounding areas and yellow zones are considered precautionary areas. These zones will vary in terms of their commercial activity and school closings. Orange zones will close high-risk non-essential businesses like gyms, bars, and restaurants, as well as schools, while permitting outdoor dining. Yellow zones will open businesses, allow indoor and outdoor dining, and keep schools open.
A large part of South Brooklyn—including Borough Park—and two parts of Queens have been designated into the three cluster zones by the governor’s office.
The new rules could go into effect as early as Wednesday and no later than Friday, though local officials will be in charge of initiating the rules. They will be
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New York City Mayor Bill de Blasio on Tuesday continued to push the state to approve a plan to shutter nonessential businesses in neighborhoods seeing surges in Covid-19 cases, an added measure to help the city avert a second wave.
The plan would close business in nine ZIP Codes in southern Brooklyn and Queens. The decision on closures is ultimately up to the state, and New York Gov. Andrew Cuomo said Monday that ZIP Codes are a flawed way to draw boundaries on closures. Mr. de Blasio said at a press conference that the city will work with whatever model the state chooses.
“The facts on the ground make clear that we need restrictions,” said Mr. de Blasio. “We need something stronger and we need it quickly.”
City officials asked the state on Sunday to close schools and nonessential businesses by Wednesday. Mr. Cuomo on Monday agreed only to the