Illinois House megaprojects bill clears way for Bears stadium in suburbs, but team still wants changes

By Matt Brady

The Illinois House on Wednesday, April 22 approved a major economic development bill that would clear the path for the Chicago Bears to build a new domed stadium in Arlington Heights, reported by Capitol News Illinois. 

In a statement from the team, though, the team is still looking for changes that would allow the site to be "feasible." 

The bill comes at a time when Indiana lawmakers are attempting to draw the coveted football team just across the state line to Hammond, where lawmakers are promising more than $1 billion in public subsidies to build an Indiana stadium.

The core of the new bill allows “megaproject” developers, like the new Bears stadium, to negotiate a payment in lieu of taxes with local taxing bodies. The bill is broken down into three tiers depending on the level of investment, with the lowest starting at $100 million that would lock in property taxes for up to 25 years.

The highest investment, being $1 billion which includes the Bears stadium development, would allow a 40-year agreement. 

The bill also includes other provisions that would broaden economic development, which would benefit Chicago and Springfield.

A part of the bill would create the Capital Area Tourism Authority and Capital City Downtown Medical District to facilitate any economic development in two areas of Springfield.