Chicago Bears stadium future takes turn after major Illinois setback
· Yahoo Sports
The Chicago Bears’ stadium saga hit another snag this week after a scheduled legislative hearing in Springfield got pulled from the calendar.
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The timing raised eyebrows because reports surfaced around the same time suggesting the organization is shifting its attention to Hammond, Indiana.
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The Indianapolis Business Journal reported that the Indiana House Ways and Means Committee was set to vote Thursday on language that would advance a potential stadium site in Northwest Indiana.
A source familiar with the discussions confirmed the committee had the measure on deck.
If that provision makes it into Indiana Senate Bill 27, the Bears would need to publicly confirm their interest in Hammond.
UPDATE: Bears release statement signaling 'vision' to build stadium in Hammond, Indiana https://t.co/HKwM9cSWVw
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They would not be locked into relocating, but acknowledging the possibility would be part of the deal, according to a report later referenced by Crain’s Chicago Business.
Back in Illinois, lawmakers scrapped Thursday morning’s hearing on a controversial stadium proposal for Arlington Heights. CBS News Chicago reported that officials decided the measure needed more work before moving forward.
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The proposal in question is called the Mega Project Assessment Freeze and Payment Law, and it focuses on tax structures for massive developments.
Under the plan, the Bears or any project exceeding $500 million could negotiate directly with local officials to lock in long-term property tax agreements. Fans say that kind of financial certainty is necessary when a team is weighing a multi-billion-dollar commitment to a stadium and surrounding development.
Some are not buying it. They argue Illinois taxpayers should not be on the hook for subsidizing an NFL franchise through favorable tax treatment.
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