The Chicago Bears’ possible move to Arlington Heights has stirred plenty of debate. For years, talk of a new stadium has come with one big question: who’s going to pay for it?
A new proposal in Springfield may finally point toward a better answer. Legislation spearheaded by state Rep. Mary Beth Canty of Arlington Heights would create a framework for “mega projects” – developments involving at least $500 million in investment – to negotiate their own property tax agreements. Local taxing bodies, including school, park, and library districts, would get a weighted vote in those negotiations based on how much of the property tax levy they receive.
In other words, the people most affected would have a say. Canty said the bill ensures everyone has a “real and meaningful seat” at the table, and