The Chicago Bears have had preliminary talks with Gov. J.B. Pritzker, state legislators and village trustees in Arlington Heights about the infrastructure help they need to support a $5 billion “stadium-anchored development” and nobody has thrown them for a loss, retiring President Ted Phillips said Friday.
One day after a community meeting to lay the groundwork for a public subsidy, Phillips said the Bears have hired Goldman Sachs to “explore every possible option” and develop a “specific ask” of the village and state. Only then would a developer be chosen to partner with the Bears.
A tax increment financing district is one way to achieve the “property tax certainty” that Phillips called a precursor to going forward.