At the City Council meeting on Wednesday, Gilbert Villegas, Alderman of the 36th Ward and Chair of the Latino Caucus, introduced a new program designed to allow city residents to participate directly in the funding and selection of neighborhood improvements. “I believe the Build the Neighborhoods Program could have a huge impact on every neighborhood in Chicago,” said Ald. Villegas. “I have always thought neighbors should have control over their neighborhood, and this is a big step in the right direction.” The Build the Neighborhoods Program would utilize mini-bonds that are sold only to Chicago residents in denominations of $500. For the first time, city residents will be able to enhance their own communities, while also enjoying the income from a municipal bond. “Obviously there are a great number of details to be worked out,” said Ald. Villegas. “Denver has had a great deal of success with mini-bonds and I believe we can build on their successes.” Ald. Villegas is the new Vice Chair of the Aviation Committee and Chair of Chicago City Council’s Latino and Veteran Caucuses. He is a first term alderman representing the 36th Ward on Chicago’s Northwest Side. The 36th Ward includes parts of Belmont Cragin, Hermosa, Montclare, Portage Park and Dunning.