AZBearsFan Posted February 4 Share Posted February 4 19 minutes ago, dll2000 said: Like a beat reporter could do it. Their full time job is to cover the bears and it feels like most do bare minimum. Mostly copying each other. The combined efforts of people on this site do just as much. This was my thought exactly. I wasn’t looking for any of you guys to spend your time doing it lol. Quote Link to comment Share on other sites More sharing options...
dll2000 Posted February 4 Share Posted February 4 https://www.journal-topics.com/articles/with-bears-develoopment-arlington-heights-stands-to-make-millions/ The amount of money the village of Arlington Heights and other nearby local units of government currently reap annually through property tax payments from the 326-acre Arlington racetrack land will unquestionably become a pittance if and when a new Chicago Bears stadium and adjacent mixed-use development becomes reality. For the most part, the huge parcel along the Metra commuter line rail tracks and Euclid Avenue, is dormant because of last year’s closing by owner Churchill Downs. Gone are the regular horse races that took place over the last century. What remains, besides the memories, is the oval track, the familiar grandstand and public viewing areas, extensive parking lots, a horse training section, and the behind-the-scenes backstretch where the animals were cared for by trainers and other handlers and where some people lived during the summer racing season. According to the village, in 2020, the last full year of horse racing at Arlington, the property generated $3,235,514 in real estate taxes. Of that sum, approximately $360,000 made its way into village coffers. The rest was distributed among about a dozen other local governments, with public schools receiving the most. The village also earned some money through its 1-¼% food and beverage tax. There is no parking or entertainment tax. For 2021, 2022 and beyond, that amount of tax money will decrease. Four distinct parcels make up the racetrack’s total acreage. Each one has its own Property Identification Number (PIN) for the purposes of establishing real estate assessments that in turn result in property tax payments. The entire acreage is zoned B-3, a common zoning district in Arlington Heights that allows the operation of restaurants and retail establishments as well as the kind of enclosed football stadium the Chicago Bears are hoping to build there. To develop a stadium, a village-issued Special User Permit would have to be secured which requires an extensive process of public hearings and passage of at least one ordinance. From trib: June 1, 2023 Local school districts and the former owner of Arlington International Racecourse have agreed on how large the property tax bill payable this year should be, but negotiations with the new owners — the Chicago Bears — for future tax years and payments are still ongoing. Former racetrack owner Churchill Downs Inc. will pay $7.9 million in property taxes this year, up from the $2.7 million it paid before closing the track in 2021. Arlington Heights-based Township High School District 214, Palatine-based Township High School District 211 and Palatine Community Consolidated School District 15 — an elementary school district — all receive property tax revenue from the racetrack site. District officials confirmed the schools and Churchill Downs Inc. reached the agreement May 31, though the Cook County Board of Review still must approve it. But because the settlement is only good for one year, the Bears — new owners of the 326-acre property as of February — will have to re-negotiate the value of the land if they want to bring down their 2023 property tax bill. The 2023 taxes will be assessed by the end of this year then be payable in 2024. “Next year it will be back to the original assessed value,” said Cook County Board of Review Commissioner Samantha Steele. The Bears will likely try to avoid a bill that could reach $16 million, based on Cook County Assessor Fritz Kaegi’s recent reassessment of the land’s value. The assessor establishes how much properties are worth in Cook County. In the case of Arlington International Racecourse, the assessment jumped from $33 million to $197 million, or roughly what the team paid for the property. The Bears had been pushing to have the property assessed at $37 million, Pioneer Press previously reported. Months before closing on the sale of the land, the football team proposed a multi-billion dollar redevelopment project for the former horseracing site, including a domed stadium, luxury residences, and business and entertainment districts. School district leaders wary of the proposed redevelopment’s potential impact on student enrollment, coupled with possible cuts to district revenues due to tax breaks, have pushed to have the property valued at $95 million. “It is important to know that the 2023 and 2024 assessments have yet to be set by the County Assessor, and no agreement has been reached between the school districts and the Chicago Bears with respect to those two years,” leaders from each of the three districts said in a joint statement. Hence, negotiations continue between the school districts and the Bears. Kaegi’s office assessed the former racetrack at about $197 million, roughly equal to what the football team paid for it earlier this year. If that valuation holds, the team would be expected to pay $16 million in property taxes next year. That is why the Bears have been negotiating with the school districts over future payments, a spokesperson said. Even with the assessor’s valuation, if the Bears and school districts come to an agreement, as the school districts did with Churchill Downs, the land value could be lowered and, as a result so would the tax bill. This year should mark Churchill Downs’ final payment of taxes on the property. The Bears will have a chance to appeal the assessor’s valuation of the land for the 2023 tax year in a bid for a lower tax bill, which Steele said she expects them to do, along with many others in Cook County. “Next year, the Bears are going to be in the position of having to to verify or justify their intent to appeal,” Steele said. “I think next year will be the interesting year.” The Tribune’s Robert McCoppin contributed. Quote Link to comment Share on other sites More sharing options...
HuskieBear Posted February 4 Share Posted February 4 1 hour ago, dll2000 said: https://www.journal-topics.com/articles/with-bears-develoopment-arlington-heights-stands-to-make-millions/ The amount of money the village of Arlington Heights and other nearby local units of government currently reap annually through property tax payments from the 326-acre Arlington racetrack land will unquestionably become a pittance if and when a new Chicago Bears stadium and adjacent mixed-use development becomes reality. For the most part, the huge parcel along the Metra commuter line rail tracks and Euclid Avenue, is dormant because of last year’s closing by owner Churchill Downs. Gone are the regular horse races that took place over the last century. What remains, besides the memories, is the oval track, the familiar grandstand and public viewing areas, extensive parking lots, a horse training section, and the behind-the-scenes backstretch where the animals were cared for by trainers and other handlers and where some people lived during the summer racing season. According to the village, in 2020, the last full year of horse racing at Arlington, the property generated $3,235,514 in real estate taxes. Of that sum, approximately $360,000 made its way into village coffers. The rest was distributed among about a dozen other local governments, with public schools receiving the most. The village also earned some money through its 1-¼% food and beverage tax. There is no parking or entertainment tax. For 2021, 2022 and beyond, that amount of tax money will decrease. Four distinct parcels make up the racetrack’s total acreage. Each one has its own Property Identification Number (PIN) for the purposes of establishing real estate assessments that in turn result in property tax payments. The entire acreage is zoned B-3, a common zoning district in Arlington Heights that allows the operation of restaurants and retail establishments as well as the kind of enclosed football stadium the Chicago Bears are hoping to build there. To develop a stadium, a village-issued Special User Permit would have to be secured which requires an extensive process of public hearings and passage of at least one ordinance. From trib: June 1, 2023 Local school districts and the former owner of Arlington International Racecourse have agreed on how large the property tax bill payable this year should be, but negotiations with the new owners — the Chicago Bears — for future tax years and payments are still ongoing. Former racetrack owner Churchill Downs Inc. will pay $7.9 million in property taxes this year, up from the $2.7 million it paid before closing the track in 2021. Arlington Heights-based Township High School District 214, Palatine-based Township High School District 211 and Palatine Community Consolidated School District 15 — an elementary school district — all receive property tax revenue from the racetrack site. District officials confirmed the schools and Churchill Downs Inc. reached the agreement May 31, though the Cook County Board of Review still must approve it. But because the settlement is only good for one year, the Bears — new owners of the 326-acre property as of February — will have to re-negotiate the value of the land if they want to bring down their 2023 property tax bill. The 2023 taxes will be assessed by the end of this year then be payable in 2024. “Next year it will be back to the original assessed value,” said Cook County Board of Review Commissioner Samantha Steele. The Bears will likely try to avoid a bill that could reach $16 million, based on Cook County Assessor Fritz Kaegi’s recent reassessment of the land’s value. The assessor establishes how much properties are worth in Cook County. In the case of Arlington International Racecourse, the assessment jumped from $33 million to $197 million, or roughly what the team paid for the property. The Bears had been pushing to have the property assessed at $37 million, Pioneer Press previously reported. Months before closing on the sale of the land, the football team proposed a multi-billion dollar redevelopment project for the former horseracing site, including a domed stadium, luxury residences, and business and entertainment districts. School district leaders wary of the proposed redevelopment’s potential impact on student enrollment, coupled with possible cuts to district revenues due to tax breaks, have pushed to have the property valued at $95 million. “It is important to know that the 2023 and 2024 assessments have yet to be set by the County Assessor, and no agreement has been reached between the school districts and the Chicago Bears with respect to those two years,” leaders from each of the three districts said in a joint statement. Hence, negotiations continue between the school districts and the Bears. Kaegi’s office assessed the former racetrack at about $197 million, roughly equal to what the football team paid for it earlier this year. If that valuation holds, the team would be expected to pay $16 million in property taxes next year. That is why the Bears have been negotiating with the school districts over future payments, a spokesperson said. Even with the assessor’s valuation, if the Bears and school districts come to an agreement, as the school districts did with Churchill Downs, the land value could be lowered and, as a result so would the tax bill. This year should mark Churchill Downs’ final payment of taxes on the property. The Bears will have a chance to appeal the assessor’s valuation of the land for the 2023 tax year in a bid for a lower tax bill, which Steele said she expects them to do, along with many others in Cook County. “Next year, the Bears are going to be in the position of having to to verify or justify their intent to appeal,” Steele said. “I think next year will be the interesting year.” The Tribune’s Robert McCoppin contributed. nsfdm not safe for dark mode 1 Quote Link to comment Share on other sites More sharing options...
dll2000 Posted February 15 Share Posted February 15 It's not over. They have to negotiate with teachers unions. But like I have said this is the small part. The greater worry is what will taxes be with a stadium and restaurants and hotels and what not sitting on property. I am worried that greed by all parties may end up screwing up a thing that makes sense and will benefit all parties (including me). The political reality is that local politics is run by teachers unions because they have money, they are organized and they vote locally. Only other group that votes locally is old people. And most old people are either in retirement communities or have moved south. Quote Link to comment Share on other sites More sharing options...
dll2000 Posted February 15 Share Posted February 15 I get he has to negotiate. But fact that we are here at this point with little to no movement at all indicates to me Kevin Warren doesn't understand Illinois politics. Call it corruption or whatever - but things don't just happen at large scale. Everyone expects and demands a deal. A lot of people have to be paid. A lot of favors granted. That is reality. McCasky should at least understand being here his whole life. 1 Quote Link to comment Share on other sites More sharing options...
dafreak Posted February 15 Share Posted February 15 **** show... Quote Link to comment Share on other sites More sharing options...
BEAR FACE DOWN ARROW Posted February 15 Share Posted February 15 20 minutes ago, dll2000 said: It's not over. They have to negotiate with teachers unions. But like I have said this is the small part. The greater worry is what will taxes be with a stadium and restaurants and hotels and what not sitting on property. It would be pretty foolish to not have this come to fruition, it makes too much sense. One thing I am confounded by: what teachers union do you think is inolved here? 1 Quote Link to comment Share on other sites More sharing options...
dll2000 Posted February 15 Share Posted February 15 51 minutes ago, BEAR FACE DOWN ARROW said: It would be pretty foolish to not have this come to fruition, it makes too much sense. One thing I am confounded by: what teachers union do you think is inolved here? Which ever one represents those 3 school districts. Probably IEA. They are biggest. Quote Link to comment Share on other sites More sharing options...
dll2000 Posted February 15 Share Posted February 15 53 minutes ago, BEAR FACE DOWN ARROW said: It would be pretty foolish to not have this come to fruition, it makes too much sense. One thing I am confounded by: what teachers union do you think is inolved here? At this point I still think it gets done eventually. But it is frustrating that there is a decent chance it does not. This should be a no brainer. I strongly suspect had they not immediately jacked up property tax post sale Bears would have broke ground by now and worried about property taxes later. Ironically that would have given Arlington Heights and School District a crap ton of leverage. They really jumped the gun or it also possible county assessor acted without thinking and just reassessed based on purchase price and went home for dinner not realizing the poop show he just created. That is also sadly possible. Quote Link to comment Share on other sites More sharing options...
dll2000 Posted February 15 Share Posted February 15 Honestly what Bears need is for a city in another state to publicly woo them to move. They can deny interest in only most dire of circumstance. Not sure what city that would be. And that would be nuclear option since they have one of the biggest and most loyal fan bases for any sports franchise in world. You definitely wouldn't want to actually do it. But as a Bears owner you would want the threat there to move things in your direction. 1 Quote Link to comment Share on other sites More sharing options...
dll2000 Posted February 15 Share Posted February 15 Or another country since NFL has been stating that as a future goal as well. Could be Mexico Bears or London Bears or Sydney Bears. Wouldn't that be something? All started in Arlington. Quote Link to comment Share on other sites More sharing options...
chisoxguy7 Posted February 15 Share Posted February 15 4 minutes ago, dll2000 said: Or another country since NFL has been stating that as a future goal as well. Could be Mexico Bears or London Bears or Sydney Bears. Wouldn't that be something? All started in Arlington. Move 'em up to Iqaluit, Canada and call 'em the Polar Bears 2 Quote Link to comment Share on other sites More sharing options...
BEAR FACE DOWN ARROW Posted February 15 Share Posted February 15 1 hour ago, dll2000 said: Which ever one represents those 3 school districts. Probably IEA. They are biggest. I don't think the teachers unions are as involved in stuff like this as you might think. They are far more likely to get involved in down the line repercussions of county financial decisions by eventually having a strike or grievance when talks of pension changes come up. The Bears vs AH situation is so strange and stupid. It really seems like one side or both has not thought this fully through. It's a sad state of affairs when you can't tell whether it's some town gov't or one of 32 special sports teams in the world that are more likely to be incompetent, with ample evidence for both. Jerry Jones would have been on the school board, have half a stadium and probably have his face on local AH Currency by now. I love Soldier Field for sentimental reasons and I like looking at it, but not having their own destiny in hand in AH is really silly. I wonder if some of their financing has conditions about taxation that are holding them from just coming up with a counteroffer. 1 Quote Link to comment Share on other sites More sharing options...
dll2000 Posted February 15 Share Posted February 15 1 hour ago, BEAR FACE DOWN ARROW said: I don't think the teachers unions are as involved in stuff like this as you might think. They are far more likely to get involved in down the line repercussions of county financial decisions by eventually having a strike or grievance when talks of pension changes come up. The Bears vs AH situation is so strange and stupid. It really seems like one side or both has not thought this fully through. It's a sad state of affairs when you can't tell whether it's some town gov't or one of 32 special sports teams in the world that are more likely to be incompetent, with ample evidence for both. Jerry Jones would have been on the school board, have half a stadium and probably have his face on local AH Currency by now. I love Soldier Field for sentimental reasons and I like looking at it, but not having their own destiny in hand in AH is really silly. I wonder if some of their financing has conditions about taxation that are holding them from just coming up with a counteroffer. As much money as they make they don't make nearly enough to pay a tax bill on a 7 billion dollar commercial valuation. Everyone knows this. There has to be a deal in place to build the stadium. It's just a matter of what it will be. I don't know if teachers unions are directly involved or not. The districts are as reported - so I imagine they are. I do know they are involved in local elections - especially the school board ones. So the people they got elected certainly are. Quote Link to comment Share on other sites More sharing options...
HuskieBear Posted February 16 Share Posted February 16 On 2/15/2024 at 1:32 PM, dll2000 said: As much money as they make they don't make nearly enough to pay a tax bill on a 7 billion dollar commercial valuation. the land isn't worth 7 billion. property taxes aren't taxed on what company/person is there, you know that, right? Quote Link to comment Share on other sites More sharing options...
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