It’s not that often that one news story gets a place of pride ahead of the Friday morning bullet points, but I’d say this one qualifies: Illinois Governor JB Pritzker has said that before he’ll consider granting the Chicago Bears owners tax breaks on their proposed Arlington Heights stadium, he wants them to pay off the remaining $534 million debt on Soldier Field first:
“We need the Bears to pay off what’s owed on the existing stadium. That’s going to be a really important feature of whatever happens.”…
The governor noted that the state works with a lot of private businesses on property tax incentives, but when it comes to the Bears, “if they want a … bill or some other help, we’re going to make that a pre-requisite.”
On the one hand, this is kind of a dumb number to choose: As we’ve covered here before in detail, remaining stadium debt is just bookkeeping, and has more to do with how a city chose to finance a project than with the actual cost to taxpayers. On the other: Sure, hell yeah, if Bears execs are going to demand a pile of future tax breaks, come right back at them with a demand for cash up front. This is what hardball negotiations look like when you have leverage, and it’s nice to see an elected official get serious with the haggling, even if you can quibble over the details.
If the Bears owners don’t want tax breaks, noted Pritzker, they’re welcome to move wherever they like. No reply yet from team execs, but you have to imagine they’re trying to count votes to figure out how to get a Pritzker-proof majority in the state legislature, which looks like an uphill battle. Or they could, you know, build their new stadium without any public assistance at all, though the last time that option was presented to them they started shopping around for other sites in or new Chicago where they might get somebody else to help pay the bill, we could yet see this again.
Okay, enough about the Bears, let’s move on to the speed round:
- After saying last month that his new stadium plan would require “city and state support for infrastructure and programmatic build out,” Detroit City F.C. owner Sean Mann has now put a price tag on that support: $88 million in property tax breaks toward a $193 million total project cost. (Mann previously said the stadium would pay full property taxes, but apparently had his fingers crossed behind his back at the time.) That’s $88 million for a team in the second-tier USL Championship, which is, I’m not going to say a record because that would take a lot of research to confirm on a busy morning, but I think we can all agree “a lot.”
- How’s development around Worcester’s new Red Sox minor-league baseball stadium going, seven years after Worcester-based economist Victor Matheson warned that new housing could end up just cannibalizing development that would have happened anyway? Even worse than that, it turns out, as much of the land around the stadium remains undeveloped, and since tax revenues from that land were supposed to be siphoned off to pay off the stadium, now Worcester is having to dip into its general fund to cover those costs instead. Somebody please check in with the Worcester Chamber of Commerce to see if they still think that their project will be different.
- Prospective Orlando MLB expansion team co-owner Rick Workman has bailed to become a minority owner of the Tampa Bay Rays, leading prospective co-owner John Morgan to bail as well, saying: “The fix is in. What I believe will now happen is this group will seek a sweetheart deal in Tampa, while stringing the prospects of Orlando as a bargaining chip. Get lots of free land and entitlements and make a real estate profit on the surrounding land at the taxpayers’ expense.” That was always the most likely scenario, especially since it seems like MLB expansion is going to put off until next decade sometime, but it’s bracing to hear a wannabe owner say the quiet part loud.
- The Denver Post editorial board says the Broncos owners’ plans for a new stadium at Burnham Yard is “an announcement that all of Colorado can celebrate,” before noting several paragraphs later that the team hasn’t said if it will pay fair market value for state-owned land, siphon off stadium property or sales taxes, or receive any other tax subsidies. Editorial writing sounds real easy, no editors or fact-checkers telling you you’re not making any sense, just say whatever you feel like and hit publish, that’s the life!