after the Bears reveal their plans for a domed stadium along Chicago’s lakefront
In an attempt to entice the NFL team back to the northwest suburb, Arlington Heights is throwing caution to the wind as the Chicago Bears focus on building a new dome stadium along the city’s lakefront.
The Bears had intended to build a $5 billion stadium there, but everything fell apart due to a tax disagreement.
Arlington Heights officials made a settlement proposal during a recent village board meeting in an attempt to settle a property tax issue involving Arlington Park, the location of the proposed stadium, between the Bears and three nearby school districts, according to the Daily Herald.
over the 2023 tax year, the Bears would pay $6.3 million in property taxes; over the next three years, depending on market conditions, they would pay $3.6 million in property taxes. Negotiated annual increases would range from 3 to 10 percent. The plan differs from the recent decision by the Cook County Board of Review, which mandated that the Bears pay almost $9 million in taxes in 2023.
We simply put out this suggestion to the Chicago Bears and the school districts, and we hope that both will carry on the conversation and come up with more creative solutions to these problems, according to village manager Randy Recklaus. Although the Bears and the districts must concur, the village cannot impose this solution alone, even though we think it is fair and reasonable
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