EDA to sign office-space MOU; board discusses Cedar Grove sign and assisted-living study as housing activity ramps up

The Cook County Economic Development Authority on April 15 authorized EDA staff to finalize a memorandum of understanding about leased office space and discussed several property and housing items: a potential cost-shared replacement sign for the Cedar Grove Business Park and renewed interest in pursuing an assisted-living project study.

Director Heidi Krampitz told the board the EDA’s lease at 425 West Highway 61 currently is shared with the Small Business Development Center and the HRA. She said the EDA initially proposed a 50/50 split of rent but that the final arrangement will reflect relative occupancy (the EDA currently has two staff in the space to the HRA’s one) and that the HRA will discuss terms at its meeting. The president moved to authorize the director and the board president to sign an MOU with the landlord as required; commissioners seconded the motion and asked staff to finalize the share detail with HRA staff.

Board members discussed the Cedar Grove Business Park entrance sign after the director provided mockups and cost estimates at the request of businesses in the park. Commissioner Hedstrom and other members said the existing sign is dated and that a new, higher-quality sign could be appropriate; some owners in the park told commissioners that a lack of an updated entrance sign felt like a shortcoming after a multi-year development effort. Commissioners suggested possible cost-sharing models: EDA paying infrastructure costs and tenants purchasing nameplates, or a shared percentage contribution among park property owners. Staff said the EDA does not currently have funds budgeted for a sign and will survey park property owners about interest and potential contributions before returning with a recommended cost-sharing approach.

Commissioner Hedstrom also updated the board on assisted-living discussions. He said recent housing development proposals (including new units at Gunflint View and The Heights) have changed the local housing landscape and may remove a prior barrier to staffing care facilities: with more housing coming, recruitment and retention constraints could ease. Hedstrom said he had met with a potential assisted-living operator who toured local sites and was encouraged by local conditions; he proposed the EDA and the HRA consider sharing the cost of an updated needs study to guide next steps. The board did not take a formal vote on an assisted-living study but directed staff to continue coordination with HRA and potential partners.

What comes next

Staff will finalize and sign the office-space MOU with the landlord in coordination with HRA leadership. For the Cedar Grove sign, staff will survey park property owners about interest and ability to contribute; if a majority support cost-sharing, commissioners asked staff to return cost estimates and a proposed contribution model. On assisted living, staff and the HRA will explore the cost and scope of an updated needs study and report back to the board.