HR 795

Abstract

Calls for the highest and best use of state-owned land. Urges the Illinois Sports Facilities Authority to proactively request proposals from developers for building housing and attractions on all of its land, including, but not limited to, the stadium and the parking lots for the benefit of the public and taxpayers with a goal of moving as much of the land into the property tax rolls as possible. Urges the Illinois Sports Facilities Authority to report on how much of the outstanding debt could be paid off by selling its existing assets to a private developer. Urges all professional sports teams seeking a new stadium to collaborate on finding one stadium solution that can serve more than one team in a private-sector led development to share the cost and keep the stadium filled for more of the year. Calls on the revenues from the 2% hotel tax to be considered as a source for all of the budget challenges. Expresses that it would be a loss to Chicago and the rest of Illinois for any professional sports team to relocate to another state. Urges the Sports Facilities Authority, the State of Illinois, the City of Chicago, Cook County, Friends of the Park, stakeholders, and the general public to join together to evaluate the highest and best use of resources for the benefits of businesses and taxpayers. Expresses confidence in our state's ability to dream big, think big, and collaboratively find the highest and best use of our land and taxes to grow our economy and keep all of our professional sports teams winning championships in Chicago.