Here’s where things stand with Chicago Bears and Arlington Heights – NBC Chicago

Here’s where things stand with Bears, Arlington Heights originally appeared on NBC Sports Chicago

From November through winter, radio silence from Arlington Heights and the Chicago Bears surrounded developments at the forefront of stadium construction in Arlington Park.

“It is very possible that there will be no further information on this project until the Chicago Bears Football Club makes a decision and announces whether or not they will purchase the property,” the manager wrote. village, Randy Racklaus, in an email to NBC Sports Chicago. in November.

Since the leaves turned green, other ongoing developments have emerged around the stadium. The main ongoing checkbox has been the Bears’ attempt to reduce the assessed value of the property in an effort to reduce their annual tax bill, as part of ongoing amendment hearings with the Illinois House Executive Committee. .

MORE: Proposed Bears stadium bills remain on the sidelines

A proposal of 30% of ticket revenue and a $3 tax bill on all tickets will go to surrounding school districts in the area. Therefore, the schools set a property value close to what the Bears paid, at $197 million. This assessment would place their tax bill at nearly $16.2 million per year.

Conversely, the Bears countered with a $52.5 million valuation, deflating their tax bill to $4.3 million per season. They cited the considerable amount of work that needed to be done as part of their counter argument.

Part of that work includes demolition, for which the Bears filed the necessary paperwork in early May. The destruction will cost approximately $3.8 million to destroy the grandstand and necessary buildings at the racetrack.

MORE: Report: Demolition at Arlington Park will cost $3.8 million

The wrecking ball will literally act on the current structure, and metaphorically on the Bears’ tax bill. Tearing down the active building will supposedly reduce the value of the property and save the Bears taxpayers money in the long run, despite an increase of $3.8 million now.

Going forward, the Illinois House Executive Committee will hold hearings on several amendments to a proposed Chicago Bears stadium construction. One of the changes includes property valuation.

Expect to hear news of more amendment changes as part of the stadium news development.

Citizens of Arlington Heights say the Bears have not yet developed comprehensive plans to control the expected high volume of traffic, as well as infrastructure constraints in the area.

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NBC Chicago

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