* Text from a prominent subscriber over the weekend…
New Indiana fiscal note dropped Friday night. An absolute cornucopia of new taxes.
Admissions tax established. New one percent food and beverage tax in Lake and Porter County. New Lake County 5% hotel tax. Creation of special taxing district in Hammond that captures sales, use tax, and income tax(!) paid within the district. Two new funds created for the collection of “all excise taxes.” Incremental sales and property tax growth in district is captured. Tollway pays for any related road improvements in a 7 county area. One provision reads: “at least 50% of the cost of the project to construct a professional spoon facility must be provided by private investment” — which kinda implies the taxpayers will be on the hook for 49%
I’m probably missing stuff.
Whew.
Click here to see what the subscriber missed, if anything.
* Crain’s Saturday…
After jolting Illinois leaders by praising Indiana’s stadium push, the Chicago Bears now say they are moving forward on legislation in Springfield.
“We continue to work with Illinois’ leadership and appreciate the progress being made,” Bears CEO Kevin Warren said today in a statement shared with Crain’s.
The shift in tone comes two days after the team hailed an Indiana House committee’s approval of a stadium finance authority in Hammond as the “most meaningful efforts in our stadium planning efforts to date” — a statement that drew a sharp rebuke from Gov. JB Pritzker, who said he was “surprised, dismayed and very disappointed” by that messaging.
Pritzker noted that the Bears’ enthusiastic assessment of Indiana’s efforts came just a day after his staff, legislators and team representatives met for three hours to discuss legislation the team is seeking in Illinois.
* Fox 32…
Wherever the Bears end up, city and state officials are laying the groundwork for a Bears-less future at Soldier Field. Fox 32 Chicago has learned that members of the Chicago Park District have been quietly pitching a plan for the 101-year-old stadium to state lawmakers and the governor’s office in recent weeks.
The plan involves transforming the stadium into a massive concert and special event venue, and it carries an expected price tag of $630 million, according to a draft of the presentation shared with Fox 32 Chicago.
Sources say the money breaks down to $130 million in direct stadium renovations, including a new sound system and new dressing rooms, and half a billion in surrounding infrastructure to tackle traffic management and parking.
Park District officials say a chunk of the cost could be covered by the Bears — who will owe nearly $90 million if they break their lease with the Park District before 2033. Park District officials are pitching state lawmakers on a funding package that would include money from the state’s road fund — paid for by motor fuel taxes — to help with the infrastructure upgrades.
* Tribune…
As Indiana and Illinois lawmakers spar over where the Chicago Bears should build a new stadium, even Illinois Gov. JB Pritzker acknowledged Friday that the team’s next home is unlikely to rise within Chicago’s city limits.
“I think now there’s a common understanding by most of the (Illinois) General Assembly that they’re not going to be able to build in the city of Chicago,” Pritzker said.
Pritzker’s pronouncement came a day after Indiana lawmakers took another step toward potentially luring the Chicago Bears across the border to Hammond, as a key Indiana House committee approved a plan to create an agency that would build a new stadium for the team.
The vote more firmly pits Indiana versus Illinois as the Bears weigh a move from Soldier Field, their home for more than half a century. And given the lack of movement on any stadium projects near Soldier Field or elsewhere in Chicago, Pritzker’s latest comments suggest that Illinois’ only viable option is the land the Bears own in northwest suburban Arlington Heights.
…Adding… Oof…
The poll is here. They didn’t ask about the Bears stadium for some reason.
Also, the Indiana Capital Chronicle has a couple of good stories on this Bears topic, plus this tidbit…
Gov. Mike Braun gave several television interviews over the weekend on the topic saying the likelihood of the move is now “better than 50/50.” In another interview he said he hoped to “ink” the deal “within a month or two.”
