The next several days will be a critical juncture in the Bears’ long and winding pursuit of a new stadium, with significant legislative moves expected in both Illinois and Indiana.
As the NFL team is moving closer to a potential deal to build a domed facility and mixed-use development in Hammond, Ind., that state’s House overwhelmingly passed a bill Tuesday afternoon that would create a state board to finance bonds toward a new stadium, covering about 60% of the project cost. The bipartisan measure passed by a 95–4 vote and now moves to the state senate, where passage is also expected. Indiana’s legislative session expires Friday, however, bringing further pressure to the situation.
Indiana is looking to fund the bill through a variety of local taxes—similar to the structure used to finance Lucas Oil Stadium in Indianapolis.
“This investment will bring jobs, economic development, population growth, tourism, new tax revenues, and new businesses,” said Indiana House Speaker Todd Huston. “It will be a catalyst for the growth across the entire Northwest Indiana corridor.”
Whether that actually happens remains to be seen, even with a stadium, as that region is among the most economically challenged areas in the entire country. The Bears’ dialogue with Indiana regarding that area, however, has picked up considerably in recent weeks as nearly three years of pursuit of a stadium deal in Illinois has not yielded a firm agreement.
Illinois legislators, meanwhile, are looking to make moves of their own. The state’s House Revenue & Finance Committee will review Thursday a “Mega Project” bill critical to any hopes of keeping the Bears in Illinois.
That bill would allow the team, or any other large developer, to negotiate tax rates with local authorities. That element, worth tens of millions of dollars to the team, has been the primary obstacle in front of the Bears completing a pact to build on land they already own in suburban Arlington Heights, Ill. A prior hearing on the bill last week was postponed as the Indiana situation escalated.
If the legislative measures in both states advance fully, it would further escalate a stadium issue that had been dragging on but is now quickly coming to a head. It’s quite likely that a final determination will be made, one way or the other, by the NFL Draft in late April.
Moving On in Chi-Town
The Chicago Park District, which controls Soldier Field and the nearby land that the Bears originally targeted for the new stadium, has put forward its plan for the area after the Bears leave.
The organization has created a $630 million proposal that would convert Soldier Field into a destination for concerts and other special events. The bill would be split between $130 million in stadium upgrades and about $500 million for infrastructure work.
Funding would come partially from the Bears, who will be on the hook for $90 million if they break their Soldier Lease before 2033, as they intend to do. Other taxes, including an Illinois road fund, would help fund the rest.
