Sounds like the Arlington Heights deal may be dead.

Sounds like the Arlington Heights deal may be dead. Sept 18, 2023 12:30:42 GMT -6

Post by mpbears68 on Sept 18, 2023 12:30:42 GMT -6

Sept 18, 2023 6:35:34 GMT -6 dachuckster said:

Sept 16, 2023 17:09:49 GMT -6 JABF said:

+1
If the Bears do move on I'll bet it's going to be a stadium (they own) in the City of Chicago. It sounds like the City is going to pitch them a deal they can't refuse, now that the new mayor is pushing this. As far as Arlington Heights goes, I wonder if they've thought about the fact that a new owner of the property could be a less desirable business? Instead of an upscale campus of businesses around a state-of-the-art sports and entertainment venue, you get something horrible like a mega-meat packing business, or one of the nastier (property value killing) things that you don't want there? There is a limit to what the people can limit as far as what a new owner can do with that property. They may gladly pay the taxes but the business itself could be pretty nasty.

I've been following several discussions on the stadium on the local Nextdoor app groups. The opposition to the new stadium is by several of what you might loosely call "grass-root" groups here. Most of the opposition is based on assumptions that I personally consider irrational.

These folks want a business that is fairly profitable so it can pay enough taxes (and generate enough jobs so there are additional income tax, sales tax, etc revenues) to reduce their property tax burden while supporting increased school and municipal infrastructure spending. At the same time, they want businesses that will "fit in" with their communities (whatever the hell that means) as well as not seriously impact their daily lives (no serious increase in traffic, not inebriated partiers in bars, etc).

Basically, they want something that will miraculously provide funding for 30% to 40% of their governmental spending, at the same time allow for a >25% increase in that governmental spending, and not have any impact on the current character of their villages.

Its NIMBYism of course. Every pol has their grubby paws out asking to be greased, every govt agency is salivating at the idea of taxing the hell out of anything that moves, and every interest group wants "their share" of the revenues without the challenges (traffic, noise, etc) that any large scale project brings.

Classic Cook County behavior

Econ 101: Capital flows preferentially to where it is well treated. If you tax and/or regulate the shit out of things, capital flees elsewhere.

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Sounds like the Arlington Heights deal may be dead.

Post by AlexM on Sept 18, 2023 12:11:24 GMT -6

Post by mpbears68 on Sept 18, 2023 12:30:42 GMT -6