CHICAGO | Da Bears | New Domed Lakefront Stadium Proposal

[Kngkyle]

Sanity prevails?

Bears are a 'private business,' don’t need taxpayer funds, Pritzker says

The Chicago Bears are getting blocked by the state of Illinois.

Gov. J.B. Pritzker said he wasn’t in favor of a plan that would provide tax relief for the team regarding its proposed stadium and development in Arlington Heights.

State Sen. Ann Gillespie, who represents Arlington Heights, filed a bill that would freeze the team’s property assessment for up to 40 years.

“I love the Bears,” said Pritzker, “but it is a private business, and I honestly do not think the public has an obligation to fund, in this major way, a private business.”

https://www.chicagobusiness.com/spor...eights-project

[Randomguy34]

[sentinel]

Originally Posted by Kngkyle

Sanity prevails?



https://www.chicagobusiness.com/spor...eights-project

Yes! Boom!

[west-town-brad]

"State Sen. Ann Gillespie, who represents Arlington Heights, filed a bill that would freeze the team’s property assessment for up to 40 years."

and then voters don't understand why their home's property taxes go up so much faster than inflation every single year.

[Busy Bee]

When you see the valuations on these sports teams where a future is imaginable that only hyper-billionaires and foreign retirement funds can afford them, I hope people are finally snapping out of it and the fever is breaking - to mix metaphors - on the era of sports socialism.

[Steely Dan]

Originally Posted by Kngkyle

Sanity prevails?



https://www.chicagobusiness.com/spor...eights-project

Thank the fucking lord!

Allah, Budda, Jesus, I love you all!!!

[bhawk66]

This is awesome to hear. Not to throw a wet blanket on it, but isn't it the state senate that votes on it? From the article the bill is gaining steam.

Can Pritzker veto it if passed? Not sure how this works.

[galleyfox]

Originally Posted by bhawk66

This is awesome to hear. Not to throw a wet blanket on it, but isn't it the state senate that votes on it? From the article the bill is gaining steam.

Can Pritzker veto it if passed? Not sure how this works.

Gaining steam? Even the sponsor of the bill wouldn’t admit to supporting it.

Pritzker has a line item veto. They literally need Chicago or downstate representatives to vote to pass it.

Arlington Heights state Sen. Ann Gillespie filed legislation last week that would allow companies behind such massive projects to negotiate annual payments with local taxing bodies in exchange for freezing their assessments. But the bill isn’t expected to gain much ground.

“There was a note of skepticism even in the words of the person who introduced the bill,” Gov. J.B. Pritzker said earlier this week. “I am of the opinion that it’s not our obligation as the state to step in and provide major funding.”

https://chicago.suntimes.com/bears/2...public-finding

“I’ve expressed my doubts about whether this is an approach ... we really want to open the door to,” state Sen. Ann Gillespie said Monday.

The Arlington Heights Democrat said she is sponsoring the proposal in part because she wants to see the concept, which she said mirrors a proposal from the Bears and other business interests, incorporated into a broader conversation about reforming a separate form of tax assistance for development known as tax increment financing.

https://www.chicagotribune.com/polit...qmm-story.html

[bhawk66]

Originally Posted by galleyfox

Gaining steam? Even the sponsor of the bill wouldn’t admit to supporting it.

Pritzker has a line item veto. They literally need Chicago or downstate representatives to vote to pass it.


https://chicago.suntimes.com/bears/2...public-finding


https://www.chicagotribune.com/polit...qmm-story.html

It says right there in the article "gaining steam"

Curious that the representative representing Arlington Heights and who proposed the bill isn't supporting it. I'm guessing she was obligated to propose the bill or be hung.

[The Pimp]

Originally Posted by kngkyle

sanity prevails?



https://www.chicagobusiness.com/spor...eights-project

ha!

[JK47]

This is really amazing in the sense that the Bears have so little political capital in this state that their (ostensibly) new state representative doesn't want to be associated with a bill she filed on their behalf and the Governor basically delivered a kill shot less than a week after it was filed.

I guess the Bears missed the memo on stadium deals. First you need to flirt with another city, then secure some sweet tax incentives, which you then parlay into a land deal and stadium construction financing. The Bears went to step three right away and gave up all their negotiating leverage.

[twister244]

Originally Posted by JK47

This is really amazing in the sense that the Bears have so little political capital in this state that their (ostensibly) new state representative doesn't want to be associated with a bill she filed on their behalf and the Governor basically delivered a kill shot less than a week after it was filed.

I guess the Bears missed the memo on stadium deals. First you need to flirt with another city, then secure some sweet tax incentives, which you then parlay into a land deal and stadium construction financing. The Bears went to step three right away and gave up all their negotiating leverage.

Kinda hard to get any leverage also when it's been nearly 40 years since winning a bowl.....

[galleyfox]

Originally Posted by JK47

I guess the Bears missed the memo on stadium deals. First you need to flirt with another city, then secure some sweet tax incentives, which you then parlay into a land deal and stadium construction financing. The Bears went to step three right away and gave up all their negotiating leverage.

Threats of moving outside the state aren’t that effective, because the state would have to assume the owners are clinically brain damaged people who are incapable of ever winning again.

Bears move to St. Louis to be its third team while having a catastrophic losing record. Chicago asks another more successful team if they would like to have a loyal fan base of 9-10 million. Regional NFL TV market wrecked for a generation.

At least the White Sox could legitimately threaten to move due to being the second fiddle.

Maybe Arlington Heights will bend over like Bridgeview did on other tax stuff, but the Illinois well is empty.

[bhawk66]

Arlington Heights could very well be looked at as the proxy "other state" they are threatening to leave for. Look how fast it lit a fire under Lightfoot who came up with an absolutely knock-out reno of SF with dome and a grand One Central master plan included. All the McCaskeys need to do now is negotiate ownership in portions of the new One Central and Soldier Field and viola. Bears are back in Chicago.

[r18tdi]

Originally Posted by bhawk66

Arlington Heights could very well be looked at as the proxy "other state" they are threatening to leave for. Look how fast it lit a fire under Lightfoot who came up with an absolutely knock-out reno of SF with dome and a grand One Central master plan included. All the McCaskeys need to do now is negotiate ownership in portions of the new One Central and Soldier Field and viola. Bears are back in Chicago.

Odd take considering how the Bear literally closed on Arlington today.

[bhawk66]

Originally Posted by r18tdi

Odd take considering how the Bear literally closed on Arlington today.

Hadn't heard.


Edit: Maybe not such an odd take after all

https://www.nbcchicago.com/news/loca...icago/3073765/

[galleyfox]

Originally Posted by bhawk66

All the McCaskeys need to do now is negotiate ownership in portions of the new One Central and Soldier Field and viola. Bears are back in Chicago.

There’s nothing to negotiate with the city.

One Central is privately owned, Bears are free to become a co-investor without the pony show.

Soldier Field is under Public Trust; it can never be privatized no matter what anybody local wants.

It’s just a matter of the Bears actually having complete financing or not. If so, there’s nothing to debate; they have the money to do whatever. If not, One Central is more sensible.

[The Pimp]

Originally Posted by twister244

Kinda hard to get any leverage also when it's been nearly 40 years since winning a bowl.....

What about the revenue that the Bears bring in ever year??? Winning championship has nothing to do with revenue. Just look at the Miami Marlins? 2 World Series Championships and NO REVENUE!

[twister244]

Originally Posted by The Pimp

What about the revenue that the Bears bring in ever year??? Winning championship has nothing to do with revenue. Just look at the Miami Marlins? 2 World Series Championships and NO REVENUE!

Good point.

[CaptainJilliams]

I might have missed it, but this whole situation has me confused: Bears close on the AH property, but at the same time JB comes out and says the state won’t be providing assistance/taxpayer money to help build the stadium. I heard someone mention that without support from the state the Bears won’t be able to go through with it (by “it” I believe the purchase of the property was implied, not sure how true that part is). If that is the case, how is the move to AH even feasible now?

Would there just be certain agreements in the purchase that couldn’t be honored?