Matt 4Nier

Elaine and Suzy, Suzy and Elaine

[Matt 4Nier @mrfourni]

@PFTCommenter Is Freddy Adu still the future of American soccer?

[Matt 4Nier @mrfourni]

@jc_bradbury Would shifting from a property tax to a sales tax also make school funding significantly more volatile? What happens in a recession when people cut back on spending?

[Matt 4Nier @mrfourni]

@RobElgasABC7 @chicagobars Do people really believe there were 5M people there?

[Matt 4Nier @mrfourni]

@ALionEye I'd rather watch Illinois in the first four than the NIT

[Matt 4Nier @mrfourni]

@chicagobars Maybe just verifying you are an actual account holder?

[Matt 4Nier @mrfourni]

@chicagobars Class 6 and 7 incentives are similar. 6 is industrial, class 7 is commercial

[Matt 4Nier @mrfourni]

@TomFornelli Surely all 10 of these teams have won a national championship

[Matt 4Nier @mrfourni]

@TomFornelli @OldTakesExposed

[Matt 4Nier @mrfourni]

@chicagobars What about Soccertown 78?

[Matt 4Nier @mrfourni]

@CamronSanto How is it any different than commuting to Soldier Field? It's at most 20 minutes further on a Sunday

[Matt 4Nier @mrfourni]

@ohiotate Wooden is a Purdue legend, so he sort of counts

[Matt 4Nier @mrfourni]

@mrpapageorg1o @wauterler @chicagobars Fair enough. Although I'd be willing to take the bet that the bears would sell the land once they get a stadium elsewhere. The rumor is their net worth is tied up in the Bears and are otherwise cash poor

[Matt 4Nier @mrfourni]

@mrpapageorg1o @wauterler @chicagobars There were multiple bidders for the land 3 years ago. It sits directly off the expressway and is easily accessible by rail (commuter and freight) in an affluent suburb. There is not a more valuable piece of land in the north suburbs

[Matt 4Nier @mrfourni]

@wauterler @chicagobars Great point! Without a stadium, the property likely gets redeveloped into a mix of industrial/commercial with everyone paying their fair share of taxes. One data center alone would pay appr $20m in taxes and only take up 5% of the site.

[Matt 4Nier @mrfourni]

@Theoblybriguy @AJManaseer Fair enough. I guess I just don't understand why the Bears or the Village aren't able to disclose what the actual PILOT payments will actually be

[Matt 4Nier @mrfourni]

@Theoblybriguy @AJManaseer Where can I find that agreement? The megaproject bill the bears are looking for would allow AH to negotiate future property taxes. But I can't find the actual agreement you're referencing

[Matt 4Nier @mrfourni]

@Theoblybriguy @AJManaseer If they are seeking the same tax incentive as your fictional subdivision, they wouldn't need legislation from the state. Incentives and TIFs in Illinois are all administered at the local level. Why have the Bears never disclosed what they're willing to pay in property taxes?

[Matt 4Nier @mrfourni]

@NWLibertarian @AJManaseer It already generates $2M in property tax as vacant land. My math estimates it would generate at least $40M in property tax revenue and I'm being conservative once it's redeveloped with anything other than a stadium

[Matt 4Nier @mrfourni]

@Med_Plant_Daddy @AJManaseer Property taxes are a local issue. I believe all taxpayers in Cook County should play by the same rules. I pay taxes on what my property is worth. So should the bears

[Matt 4Nier @mrfourni]

@Med_Plant_Daddy @AJManaseer The land alone is worth 200M (see Bears 2022 purchase price). A development with commercial buildings would increase that value to $500M (low estimate for 300 ac) Using current tax rates, you're talking about $40M annually in property taxes. Bears want to pay $8M