You're completely missing the part (and the point) about the other tax revenues and economic benefits from having a project like a Bears stadium and related facilities. Sales tax in Chicago/Cook is north of 10%, and that's not even accounting for all the entertainment, hotel, etc. taxes that the towns and county (not sure if state does to) levy. I'm not sure how can you not the see the huge difference in terms of economic return and tax revenue from $3B business development vs. $3B residential real estate.Fair point, and residential real estate will have a higher tax revenue. Really just wanted to show that AH and the schools will be fine if the Bears don't go there.
I just don't understand why folks think it's so bad for IL if the Bears move. The public always loses in publicly funded stadiums (whether they're paying upfront to build it or deferred with tax breaks).
I'm not missing it at all. I believe (and many, many studies back it up) that the benefits are small. 8 home games/year. Maybe some concerts? I think the economic benefit from 10K new residents greatly outweighs the benefit from 8 home games where most fans drive in for the game and then drive home after. And like I said, there are many studies that back it up.You're completely missing the part (and the point) about the other tax revenues and economic benefits from having a project like a Bears stadium and related facilities. Sales tax in Chicago/Cook is north of 10%, and that's not even accounting for all the entertainment, hotel, etc. taxes that the towns and county (not sure if state does to) levy. I'm not sure how can you not the see the huge difference in terms of economic return and tax revenue from $3B business development vs. $3B residential real estate.
Also, I'm not sure if you're familiar with the area or not, but you're making a huge unsupported (and unlikely to occur) assumption that those 6,000 units would be bought. That's about 18,000+ people (assuming 3 per unit); where are these people coming from? The town (AH) is not growing, and most of the surrounding areas are similarly not growing population wise (many are actually shrinking). There is no need for new/added 6,000 units/residences in that area. There are also no businesses that would attract new residents, etc. At best, these people who will be moving from other areas in Cook (or maybe the surrounding counties), so you're not truly "adding" property tax revenue; rather, just shifting it from one area to another.
The town isn't growing because there literally isn't anywhere left to build there. If new housing were built, people would come.
Pritzker didn't sell the Thomson Center to Google. The State sold it to Michael Reschke and Quintin Primo for only $105M via a complicated transaction that involved trading a portion of it for a portion of the former BMO-Harris HQ. The prices was well below what if would have sold for pre-pandemic if the preservationist wouldn't have put up such a stink. Then those two agreed to a build-to-suit with Google. Pritzker took some credit for someone else's creativity.Warren was credited with spearheading the Vikings process of siting and building what is now regarded as one of the best stadiums in the league, and Pritzker's sale of the Thompson Center to Google is the basic shape of what I have in mind for Solider Field (though that's owned by the city).
But again I return to, even if the individual points of right-wing grievance are 100% factually true, right-wing grievance as a tone and mode of argument is not and inherently cannot be the Bears' ally in this process, playing those notes will always push them further away from their goal working in such a blue state. It's so tempting to reach for "there go Illinois Democrats again" as a rhetorical cudgel because there are so many sympathetic ears nationally, but you play to win the game and strategically the team and its allies should have been more disciplined about avoiding that.
They still think they can blackmail Pritzker with the idea that Indiana would damage his presidential ambitions, and maybe they're right, but you catch more flies with honey than with vinegar.
Lol we've got a lot of Illinois Policy Institute readers in here I see.Pritzker didn't sell the Thomson Center to Google. The State sold it to Michael Reschke and Quintin Primo for only $105M via a complicated transaction that involved trading a portion of it for a portion of the former BMO-Harris HQ. The prices was well below what if would have sold for pre-pandemic if the preservationist wouldn't have put up such a stink. Then those two agreed to a build-to-suit with Google. Pritzker took some credit for someone else's creativity.
The lakefront has never been meaningfully under consideration in this. Any lakefront-related proposal has only been a notional talking point for one side or the other, the fact that Soldier Field stands there as unloved city-owned property still owing nine figures of bond debt makes it impossible to start the conversation on the standard NFL terms.I don't think the lakefront proposal was stopped by right-wing grievance. The Democratic Socialists block of the City Council (which is Johnson's base) were likely louder opponents. The schadenfreude people are experiencing from the Indiana announcement is from the right because of the seeming ineptitude of the State and City fully controlled by Democrats bumbling the whole process.