The Arlington Heights Village Board Monday unanimously rejected a proposed referendum to ban public subsidies for a proposed Chicago Bears stadium growth or another personal enterprise.
The board voted 9-0 to reject a petition for an “Anti-Corporate Welfare Ordinance,” which had been signed by some 565 registered voters and residents.
Mayor Thomas Hayes urged rejection of the measure, saying it will trigger “severe negative economic impact.” He additionally alleged that some petitioners had mentioned they have been misled in regards to the function of the proposal.
The Bears, who presently play in Chicago’s Soldier Field, have a preliminary settlement to purchase the 326-acre Arlington International Racecourse from Churchill Downs Inc. for $197 million. The workforce has proposed a $5 billion redevelopment of the property to incorporate a brand new enclosed soccer stadium and adjoining leisure, retail and residential buildings.
The workforce has mentioned it will pay for the stadium, however would want public assist to pay for infrastructure, comparable to roads and utilities, for the mixed-use growth.
The petition to the board would have prevented the village from providing any monetary incentive not simply to the Bears, however to any enterprise or company.
The petition had been circulated by Americans for Prosperity-Illinois, primarily based in neighboring Rolling Meadows. It is a part of a nationwide conservative libertarian group backed by the conservative billionaire Koch household.
The group’s deputy director, Brian Costin, advised the board that he would proceed to struggle for the measure.
“Our ordinance is about equality before the law,” he mentioned. “You shouldn’t be forced … to pay for the profits of others. … The citizens of Arlington Heights deserve to have the final say on the issue of corporate welfare.”
Village Manager Randall Recklaus warned that such a measure would forestall many packages the village has used efficiently, from subsidizing public parking to al fresco eating.
One seemingly chance for the Bears could be a tax increment financing, or TIF district. Under a TIF, any will increase in property tax revenues in a chosen space, such because the stadium growth, could be used to pay for infrastructure enhancements there. Property tax revenues going to native taxing our bodies comparable to faculties could be frozen at present ranges for 23 years.
Board trustees argued that they’ve used such incentives fastidiously and efficiently for a number of buying facilities.
“I’m hoping this is the end of (the petition),” Trustee John Scaletta advised Costin, including, “You’re wasting our time.”
The village permits a petitioner to assemble signatures from 12% of registered voters, or practically 7,000 signatures, to override the board and put the measure on the poll.
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Source: www.bostonherald.com