"Why are we not actively supporting the Bears?" Stephens queried. "They're essentially a multibillion-dollar entity and if they were to sell, any new owner would likely seek similar financial support."
The Bears are currently pursuing legislative permission to refinance and prolong ISFA bonds, which have historically been dedicated to supporting sports facilities for four decades. This funding, fueled by a 2% tax on Chicago hotels, was pointed out by Stephens as a potential source that should be utilized exclusively for a stadium in Chicago.
Following their acquisition of the Arlington Park site in Arlington Heights over a year ago for $197.2 million, the NFL team has been planning to construct a domed stadium on the lakefront, which would be managed by the Chicago Park District.
Recently, Stephens allied with Johnson to advocate for this project, although their discussion at a recent Illinois AFL-CIO meeting didn't directly address the Bears. Instead, Stephens took the opportunity to bring up what he perceived as Johnson's disregard for McCombie, who had engaged with various legislative leaders during her two-day trip to the Capitol.
POLL | ||
14 MAI | 62 ANSWERS Unusual Partnership: Suburban Mayor and GOP Legislator Support Bears Do you support using hotel taxes for the Bears' new stadium? | ||
Yes | 41 | 66.1 % |
No | 21 | 33.9 % |
List of polls |