The confusing strategies for Bears stadium taxes

What am I missing? The Bears won't pay for, construct, and own a new stadium in Arlington Heights (or Chicago) with enormously high property taxes based on a best use assessed value. So they want to negotiate PILOT in order to reduce those property taxes to a more reasonable level (comparable/proportionate to what other major pro teams pay in such taxes for their stadiums).

The public school districts and jurisdictions which feed off the taxpayers' money trough (excuse me, I should say “ … which provide services to the public”) don't like that because PILOT would lessen their take. And the Illinois Senate doesn't like that either, for any number of (politically-motivated) reasons.

So what does the Senate do when they fumble at the goal line? They suggest that Arlington Heights or Chicago or wherever in Illinois have the Bears pay for and build a new stadium and then deed that to (and lease it back from) whatever city, so it becomes public property — and not taxable at all.

Kenneth L. Anderson

Saint Charles