A total of 20 regeneration projects received funding of £1.25 million as part of a £5 million pot set aside for the Local Investment Fund.
Groups are to benefit from funding of between £15,000 and £250,000.
The cash has been earmarked to help areas across the city, with a further £490,000 allocated for the Shankill area.
Lord Mayor Gavin Robinson said the investment was a "significant milestone".
"We were conscious that many of our schemes were major city wide projects and we need to invest in smaller local schemes that would make a significant and direct difference to the lives of our ratepayers," he said.
"All the schemes that will receive funding today have been brought forward by council members – and hopefully will underline the importance of elected representatives delivering for their local communities."
COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? firstname.lastname@example.org