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southland development authority

 
 

Transforming the economy of the south suburbs

The Southland Development Authority (“SDA”), launched in November, 2019, is an innovative new organization designed to conceive, coordinate, provide resources to and manage comprehensive inclusive economic growth for the South Suburbs. 

The first of its kind in Illinois, the Authority is a professional development business organization working with investors, developers and other stakeholders.  It provides speed and transparency in the marketplace, while acting as a cross-sector vehicle for business, civic and public entities to drive strategic economic development across more than forty municipalities.  The SDA will particularly drive the large-scale investments needed to propel the Southland forward, with access to sophisticated development expertise and new sources of capital.

The SDA itself is a non-governmental, not for profit organization. Through a formal operating agreement with the South Suburban Land Bank and Development Authority (SSLBDA), it will be able to coordinate and accelerate the government activity necessary for development.  SSLBDA is an intergovernmental entity representing over 40 member suburbs, with the capacity to assemble vacant land, abate back taxes, and partner with SDA on predevelopment activities.

 
 
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The SDA will also be creating a distinct finance arm, helping to assemble and deploy financial products that have gone underused in the Southland due to fragmentation, capacity constraints and complexity of the instruments. These include bonding authority, tax-advantaged investments, enterprise zones and other forms of place-based incentives.

Like other Development Authorities around the country, the SDA is designed to be financially self-supporting within a few years.  Startup financial support has been generously contributed by Cook County, the MacArthur Foundation, the Chicago Community Trust, and the Elizabeth Morse Charitable Trust and the Elizabeth Morse Genius Charitable Trust.

For more information, see the following documents: