Tax Proposal Filed That Could Help Bears’ Arlington Heights Development
February 7, 2023 2:17PM CST
New legislation filed in Springfield could help the Chicago Bears finance their proposed development in Arlington Heights. The Chicago Tribune reports the measure would freeze the property tax assessment on the former Arlington Racecourse property for up to 40 years. The plan would require the Bears to invest at least 500-million-dollars in converting the proposed site to a stadium and surrounding mixed-use development. The legislation will likely face pushback from Chicago officials who don’t want to make it easier for the Bears to leave the city.