Tinley Park, IL (7/27/21) – The Southland Development Authority (SDA) and the South Suburban Land Bank and Development Authority (SSLBDA) are excited to announce a new partnership agreement. The goal of the agreement is to revitalize communities and achieve sustainable economic development across the South Suburbs of Chicago through strategic land management and redevelopment projects.
The SDA will provide much-needed staffing and operational support to the SSLBDA, revitalizing both the efficiency and effectiveness of its land bank operations. The agreement covers everything from asset management and program execution to securing funding and community planning.
Key aspects of the agreement include the selection and execution of Joint Projects, where both parties will work together to develop strategic plans that align with community needs. Additionally, the SDA will oversee project management efforts. Those efforts will include funding, marketing, and negotiations. Meanwhile, the SSLBDA will focus on property acquisition and tax lien extinguishment.
The agreement ensures that the benefits of the partnership are equitably shared and reinvested into its 29 member communities. This collaborative model aims to improve the size and efficiency of the SSLBDA’s development projects, bringing new opportunities for economic growth and stronger communities to the South Suburbs.
The agreement also establishes a framework for transparency, accountability, and mutual support, covering everything from conflict resolution to project oversight; promising decisive community transformation.
By merging their expertise and vision together, the SDA and SSLBDA are aiming to set a new standard for community development—ensuring a brighter future for the Southland region.
About South Suburban Land Bank & Development Authority
Founded in 2012 as the first land bank in Illinois, the SSLBDA represents 29 partner cities and villages across the Chicago Southland who work together to reclaim vacant and abandoned properties. Since its inception, the Land Bank has revitalized almost 200 distressed properties, transforming vacant buildings into active ones and returning them to the tax rolls.
About Southland Development Authority
The Southland Development Authority is a nonprofit business organization launched in 2019 by business, civic, and political leaders from around the Southland who recognize the potential of the region’s people, businesses, and real estate. Our mission is to bring the resources and capacity needed to achieve transformative, inclusive economic growth for the south suburbs with a focus on investments in the Southland’s communities, industry, housing, and workforce.
We work steadfastly to connect Southland business owners, investors, and individuals with key resources to operate and thrive in the region, from equipping mid-size and small businesses in our Business Growth services Program with customized advice and consulting services, to helping local residents access the tools needed to pursue their entrepreneurial dreams. With a deep institutional knowledge of the Southland’s people, markets, and history and our multifaceted, experienced team, the Southland Development Authority is a powerful partner for any individual, business, or investor.
