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PROPOSED INTERAGENCY AGREEMENT
Department(s): Bureau of Economic Development
Other Part(ies): Southland Development Authority (SDA), East Hazel Crest, Illinois
Request: Authorization for the Chief of the Bureau of Economic Development to negotiate and execute an Interagency Agreement to provide funding to the SDA.
Good(s) or Service(s): The Bureau of Economic Development seeks to provide a grant of funds in the amount of $300,000 to the SDA to launch and operationalize the SDA which was established through efforts undertaken by the South Suburban Mayors and Managers Association. The SDA intends to collaboratively undertake coordinated, large-scale and long-term economic development growth in the South Suburbs of Cook County.
Agreement period: 10/28/2019 -12/31/2020
Fiscal Impact: $150,000.00 FY2019 and $150,000.00 FY 2020; The 1st payment of $150,000 shall be made upon approval of this Interagency Agreement by the Cook County Board of Commissioners; the 2nd payment of $75,000 shall be made upon evidence of SDA having secured funding commitments for an additional $75,000 to support the SDA; and the 3rd payment of $75,000 shall be made upon evidence of having secured funding commitments for an additional $75,000 to support the SDA.
Accounts: 11000.1027.10155.521314
Agreement Number(s): Not Applicable
Summary/Notes: As a result of funding from several different sources, the SDA intends to facilitate the strategic, large-scale investment that is necessary to propel the Southland forward. The formation of the SDA represents implementation of one of the key recommendations from the South Suburban Economic Growth Initiative, Phase I Report; and New Institutions for a New Economy, a report on designing development authorities to help disinvested areas like the South Suburbs thrive.
The SDA will focus its efforts to further the economic development for a core group of 34 communities that are home to 441,000 residents in Cook County’s South Suburbs. The SDA will be a lead partner with other developers, investors and stakeholders in jumpstarting economic growth for the entire region.
The SDA was established to collaboratively undertake coordinated, large-scale and long-term economic development growth in the South Suburbs of Cook County. It will facilitate the strategic, large-scale investment that is necessary to propel the Southland forward again.
The funds granted to the SDA by the County through the Bureau of Economic Development will be utilized launch and operationalize the Southland Development Authority and conduct the following;
1. Executive search and leadership recruiting to hire an Executive Director and elect a full Board of Directors.
2. Establishment of a regular calendar of board meetings, onboarding of board members and establishment of board structure.
3. Pursue initiatives in the following areas and demonstrate progress and advancement in connection with:
a. Strengthening the region’s most significant industrial assets by facilitating large developments designed to make the South Suburbs the most innovative area in the nation for food manufacturing; metals, machinery & equipment; and transportation, distribution and logistics (TD&L) firms;
b. Working to support existing small businesses in growing their operations and fostering a supportive atmosphere for entrepreneurs in everything from retail to professional services through the Small Business Development Center at www.SouthlandSBDC.com <http://www.SouthlandSBDC.com>;
c. Supporting existing homeowners, creating new homeownership opportunities, and strengthening the rental housing stock through new financial products and programs; and,
d. Developing talent initiatives to match industry demand including; expansion of apprenticeship and pre-apprenticeship programs, industry sector partnerships to support both the manufacturing and TD & L sectors.
4. SDA staff and contractors will manage, engage and support the Civic Working Groups around industrial development, small business development, housing and talent to generate projects that merit additional support by external funding.
5. SDA will continue to refine the budgeting and financial projections developed by Forsythe Partners.
6. SDA will develop a 5- year fundraising plan to support its operations, financial projections and progress toward self-sufficiency.
The SDA will be responsible to maintain books and records and submit reports to the Bureau of Economic Development regarding its use of funds.
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