Gov. J.B. Pritzker and state legislative leaders slow to embrace public funding for new Bears stadium and lakefront improvement plan.
Team President and CEO Kevin Warren, Karen Murphy, executive vice president of stadium development, Mayor Brandon Johnson, and chairman George McCaskey in front of a rendering after the Bears announced plans to build a new domed lakefront stadium on April 24, 2024, at Soldier Field.
The plan calls for repayment of the new borrowing to be stretched out over 40 years, and the whole proposal would require approval from the legislature and the governor. Neither Bears officials nor Chicago Chief Financial Officer Jill Jaworski could say what the total tab would be of that debt for future taxpayers over the planned 40-year term, but both argued the costs would largely be borne by out-of-towners staying in city hotels.
“I’m going to say to you publicly what I said to Kevin Warren privately last week: If we were to put this issue on the floor for a vote right now, it would fail,” Welch told reporters. “Today was the first day that we have been able to publicly roll out our plan, so it’s very difficult for someone to say they’re against this and we just presented it,” Warren said. “So we look forward to having more conversations with the individuals in Springfield, Gov. Pritzker and Speaker Welch, and I haven’t seen any of these things that you’re alluding to because I’ve been here on stage. But we’ll continue proceeding forward.
In addition to asking for state help to finance a portion of the stadium construction, the team also is looking for as much as $1.5 billion in public funding for infrastructure improvements spread out over three phases lasting up to five years. The third phase, which could cost $665 million, would include other enhancements to the Museum Campus, including restoring the colonnades, making “further transportation improvements,” adding retail and other public attractions.
“This is going to reinvigorate the entire city of Chicago,” Johnson said. “It will be the crown jewel of the city of Chicago.”To advance their plan, the Bears and Johnson will have to win over not only Pritzker and the legislative leaders but also rank-and-file lawmakers. Even state Rep. Kam Buckner, who attended the Bears’ announcement, said his presence was not a function of his support for the plan, some details of which he said he learned for the first time Wednesday.
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