Southland Reactivation Act: Local leaders push to create jobs, help businesses in south suburbs

Local leaders are making a new push to create jobs and help businesses expand in the south suburbs.

COOK COUNTY, Ill. - Local leaders are making a new push to create jobs and help businesses expand in the south suburbs.

Friday marked the launch of the Southland Reactivation Act.

The act creates a special designation for under-utilized properties in south suburban communities.

The goal is simple: provide incentives to help promote development at those locations that have struggled to keep businesses.

Under the act, properties that meet the qualifying criteria will be assessed at 50 percent of their last known equalized asset value.

For the first year of being certified as a Southland Reactivation Property, their total tax liability bill cannot exceed $100,000.

Discounts of varying amounts would then be allowed to continue for up to 12 years.

Leaders say not only will this measure improve those properties, it will also help with the tax burden in the region.

As part of the rollout, organizers also plan to create an interactive map to allow prospective investors a closer look at those properties.