Lawmakers in Springfield are preparing for a pivotal hearing that could shape the future of the Chicago Bears.
Lawmakers in Springfield are preparing for a pivotal hearing that could shape the future of the Chicago Bears .After stalled negotiations, a controversial proposal that would offer the team tax incentives and infrastructure support for a potential new stadium in Arlington Heights will get its first public hearing on Thursday.
But while momentum is building, the package isn't exactly close to the end zone.On Thursday morning, the Illinois House Revenue & Finance Committee will hold a hearing on the Mega Project Assessment Freeze and Payment Law, legislation which 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.Not all lawmakers are sold.'I don't believe there's a need to use public dollars for the Bears stadium. I'm in the investment business. I've been doing it for 30 years,' said Illinois state Rep. Martin McLaughlin .McLaughlin has been against the deal, arguing private investors — not taxpayers — should carry the cost of the Bears stadium project.'This just isn't a stadium deal, it is a regional opportunity,' he said. 'Private capital will come to this deal, and we can do this without putting the taxpayer on the hook.'Supporters warn Illinois is competing with Indiana, where leaders are also trying to lure the team, and time is running out.'We are in a competition with Indiana, and we can't afford to lose the Bears to Indiana,' said Rolling Meadows city manager Rob Sabo.Sabo said the so-called 'megaprojects bill' isn't a giveaway, but a rare opportunity for growth, especially for his city, which neighbors the proposed stadium site.'For us, this means tens of thousands of jobs. These are union jobs. You have a variety of different laborers who are going to be a part of construction, and that has trickle-down effects for our community,' he said.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.But state lawmakers are on the same team on one thing – trying to keep the Bears in Illinois.'The Bears need to be a Chicago regionally based team,' McLaughlin said. 'And the communities want it and Illinois needs it.'Lawmakers are expected to vote tomorrow on whether to move the 'megaprojects bill' forward, and they'll need to make any necessary changes fast before the end of Indiana's legislative session at the end of this month.
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