Illinois hearing on Bears stadium tax breaks canceled; report says Bears “zero in” on Hammond, Indiana
By Marissa Perlman, Adam Harrington
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CHICAGO (WBBM) — A pivotal Illinois legislative hearing in Springfield that would impact the future of the Chicago Bears has been canceled, and published reports said the Bears are “zeroing in” on a plan to move to Hammond, Indiana.
Citing a source familiar with negotiations, the Indianapolis Business Journal reported that the Indiana House Ways and Means Committee was set to vote Thursday morning on language that would pave the way for a Northwest Indiana Bears stadium site to be finalized.
If that language is placed in Indiana Senate Bill 27, the Bears will be expected to make a statement confirming their interest in the Hammond site, but falling shy of a full commitment to move, the publication reported, as cited by Crain’s Chicago Business.
Back in Illinois, a hearing had been scheduled for Thursday morning on a controversial proposal to offer the Bears tax incentives and infrastructure support for a potential new stadium in the northwest Chicago suburb Arlington Heights. But that hearing has been canceled.
CBS News Chicago is told lawmakers wanted to work through some additional details in the proposal, called the Mega Project Assessment Freeze and Payment Law, before bringing it forward.
The legislation would allow the Bears – or the developers of other projects costing at least $500 million – to negotiate with local government to lock in how much they would pay in property taxes for years to come.
Supporters have said that kind of tax certainty is what’s needed before the Bears invest billions into a new stadium and surrounding development, but critics have argued Illinois taxpayers shouldn’t be in the business of helping fund an NFL franchise.
The proposal would freeze the Bears’ property tax assessment for up to 40 years. While the Bears have said they would pay for the stadium themselves, they are seeking more than $850 million in state funding for necessary supporting infrastructure – such as new roads, upgraded utilities, and more.
Supporters have warned that Illinois is competing with Indiana, where leaders have been trying to lure the team for some time, and time is running out.
There’s also political pressure from Chicago to factor into any deal for a new Bears stadium in Arlington Heights. The Bears’ lease at their current stadium, Soldier Field, runs through 2033, and more than half a billion dollars of debt is still owed on the 2003 renovation of the stadium.
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