Step 1

Heat olive oil in heavy large pot over medium-high heat. Add ground pork and ground beef and sauté until brown, about 3 minutes. Add cubed beef and garlic and sauté 5 minutes. Add 2 cups water; bring to boil. Add cumin, chili powder, oregano, salt, and cayenne pepper. Reduce heat, cover, and simmer 10 minutes. Add tomato paste and sugar and simmer 5 minutes. Add tomatoes, onions, and peppers and simmer until vegetables are tender, about 30 minutes.

Step 2

Add black beans and cilantro to chili. Add beef broth 3/4 cup at a time, until thinned to desired consistency. (Can be prepared 1 day ahead. Refrigerate uncovered until cold, then cover and keep refrigerated.) Bring chili to simmer. Ladle hot chili into bowls; top with grated cheddar cheese and serve.