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Southland Development Authority presents MOU for 241‑acre Project Bloom, asks University Park to consider annexation and TIF
Summary
The Southland Development Authority outlined a non‑binding memorandum of understanding to cooperate with University Park on Project Bloom, a proposed 241‑acre mixed‑use redevelopment near I‑57. The plan would require annexation and a tax‑increment financing district to pay infrastructure costs and will proceed only with further community input and later votes.
Beau Kemp, chief executive officer of the Southland Development Authority, told the Village Board that the authority has entered an agreement tied to a proposed 241‑acre redevelopment at the corner of Steger and Interstate 57 and is asking the village to approve a non‑binding memorandum of understanding to move forward.
Kemp said the MOU would not obligate the village to specific actions but would enable the Southland Development Authority and the village to coordinate on annexation, site preparation and a potential tax‑increment financing (TIF) district to pay for major infrastructure — water, sewer and power — that the SDA said developers commonly require. "This MOU is designed to be non‑binding," Kemp said. "It signals our intent to work together while we recruit end users and raise capital for horizontal infrastructure."
The proposal covers roughly 241 acres west of I‑57 between Steger and nearby arterial streets. Kemp said SDA has begun preparatory work, including archeological and site testing, and is pursuing state and private grant support while seeking partners for vertical development.
Trustees asked procedural questions about sequencing. Kemp said annexation would come first, followed by an established TIF to make infrastructure investments feasible. "Annexation is necessary in order for the TIF to apply; we anticipate coming back to you for annexation votes as pieces are ready," he said. SDA representatives also said they have started targeted outreach and have applied for grant funding to support community engagement and legal work needed to structure community benefits.
Residents and trustees asked for clearer documentation and expressed caution. One trustee said many residents are "sick and tired of warehouses" and urged the authority to prioritize a mixed use approach if the village pursues the project. Kemp acknowledged local wariness about prior deals and said the SDA would work to identify a mix of industrial, commercial and residential uses that matched local priorities and mitigate traffic concerns by leveraging the site's interstate access.
Next steps: the MOU presented to the board is non‑binding; staff and the SDA said they will return with more detailed annexation maps, a clearer TIF proposal and community‑engagement plans before any vote. The board did not adopt a final resolution on the MOU during this session.
