CHICAGO (WBBM NEWSRADIO) - This afternoon the Bears will share their plans for a new lakefront stadium, including that half of the cost is expected to be paid with public funds.
A new stadium just south of Soldier Field and improvements to the area around it would cost $4.6 billion.
The Chicago Tribune reported the Bears said they’ll pay half and look to taxes for the other half.
The plan would require the state Legislature to approve new borrowing for the Illinois Sports Facilities Authority, which would include paying for the $629 million already owed for renovations at Soldier Field and Guaranteed Rate Field.
It would be paid for with a 2% hotel tax that the teams said would not go up.
The head of the Civic Federation told the paper the team must show reliable cost and revenue projections to even start the conversation.
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