Chicago mayor: No new taxes for city residents with new stadium plan
Chicago mayor: No new taxes for city residents with new stadium plan originally appeared on NBC Sports Chicago
Chicago mayor Brandon Johnson said on Wednesday that the Bears’ new plan to build a stadium in Chicago will not raise taxes on city residents.
“I’m going to repeat that one more time to make sure that everybody gets it,” Johnson during a press conference announcing the plans. “This project will result in no new taxes on the residents of Chicago.”
The Bears have previously committed to contributing $2 billion to the construction of a new stadium in Chicago, but the project is expected to cost significantly more money. At the time of publication, it was unclear where the additional funds would come from– but the Bears have made it clear that the proposed new stadium in Chicago would be publicly owned.
The Bears bought 326 acres of land in Arlington Heights last year, and previously announced plans to build a new stadium there. But contentious negotiations about property taxes in the suburbs have become an obstacle for that plan. Earlier this year the team said it was switching its focus away from Arlington Heights back to the city.
The Bears' plans have also faced increased scrutiny amid a separate push from the Chicago White Sox to secure public funding for a stadium project in the South Loop. According to a recent Crain's report, the teams have been told that there is little appetite on the part of lawmakers to approve separate financing plans for stadiums, and urged the two teams to work together.
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