Gov. J.B. Pritzker said a legislative proposal that could help the Bears finance a new stadium has many hurdles to clear before landing on his desk.
Clouds pass over the now closed Arlington Park International Racecourse on Sept. 6, 2022, in Arlington Heights, Ill.
“So, you know, I look forward to hearing more about it and seeing how it might evolve,” Pritzker said.The tax proposal in Gillespie’s bill was first floated several weeks earlier and has been met with skepticism. Gillespie, a Democrat from Arlington Heights, said in an interview on Monday she had her own doubts about the plan, adding that her motivation was in part to spark a debate on possible reforms to a separate form of assistance for developers known as tax increment financing.
The Bears would be required to negotiate an annual payment to local taxing bodies on top of property tax payments based on the frozen assessment. The Bears have proposed building a new enclosed stadium as part of a $5 billion development that would include apartments, condominiums, bars, restaurants and parks. But team executives say they won’t go forward with the development without a government subsidy of the infrastructure costs.A rendering released by the Chicago Bears shows the view from the threshold of the proposed stadium of the Arlington Park entertainment district.
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