Chicago Bears: Illinois Fumbles, Indiana Steals the Show - Page 3
- Illinois legislature scraps privately-financed stadium plan in favor of public-private model like Indiana's.
- Bears seek property tax certainty, which Indiana's package offers but Illinois may struggle to provide.
- Concerns over Illinois' fiscal health compared to Indiana's make the Hoosier state a more appealing option for the Bears.
Chicago Bears: Illinois Fumbles, Indiana Steals the Show
The Chicago Bears‘ potential new home is still up in the air, but it seems like the state of Illinois is losing its grip on the project. In a surprising turn of events, the Illinois legislature scrapped their original plan for a privately financed stadium, opting instead for a public-private entity model similar to Indiana’s. This move has left many wondering if the Bears will finally take the hint and head to the Hoosier state.
As Tony Katz notes, “They didn’t get the job done. Now that doesn’t mean it’s all over and the Bears are coming to Hammond. It means that Illinois didn’t get the job done for their legislative session, but they come back in the summer.” Tony is referring to the Illinois House’s decision to pass the Megaprojects Bill, which was met with resistance in the Senate due to concerns over property tax relief.
The Indiana model, which allows local municipalities to handle more of the stadium funding, seems to be the more appealing option for the Bears. As Tony explains, “Chicago, there is nothing out there that says the Bears want to stay within the city limits. Absolutely.” The idea of building a stadium in the middle of the city of Chicago is not even considered. “Absolutely nothing”
The Bears’ desire for property tax certainty is a major sticking point in the negotiations. As IBJ’s Gerry Dick notes, “The bottom line is the Bears want property tax certainty. That is something that the team officials and others in the process have been harping on and we’ve been preaching on since day one.” The Indiana package offers this certainty, which is why the deal in Illinois was scrapped.
But is Illinois really ready to deliver on a deal that would keep the Bears in the state? Gerry raises the point: “You look at the fiscal health of certainly this city of Chicago, but even the state of Illinois compared to Indiana, there’s really no comparison.” This is a concern that many in the business community in Illinois and Indiana are taking seriously.
Tony touches on the idea that even if Illinois puts something on the table, there’s a feeling that the state may not be able to follow through on its commitments. “I think it’s real,” Gerry responds. “I think it’s real, and I think privately I would not be surprised that certainly folks in Indiana are making that case. Hey, we have we’re sitting on a more solid financial, physical ground and can deliver on this. We don’t think Illinois can’t per se.”
The debate over government participation in stadium financing is a complex one, with valid arguments on both sides. As the speaker notes, “You could you could go on down the list in communities and cities and towns around the country make that same argument.” However, the potential benefits of bringing the Bears to Northwest Indiana could be significant, with the speaker suggesting that it could be a “game-changer” for the region.
To hear more about the Bears’ potential move to Indiana and the implications of this decision, tune in to the full episode of this podcast.
Listen to the “Chicago Bears: Illinois Fumbles, Indiana Steals the Show” discussion in full here:
