PPS

Sure seems like the Bears gave out specifics:

"We really tried to reach an agreement,” Dalianis said. “We offered them what they said they wanted, which is long-term property tax certainty and essentially $5 million (in taxes) a year, and those offers were not accepted. So we’re frustrated.”

There are a ton of people carrying water for the schools, but anyone with a brain knows they are greedy SOBs and full of shit. The idea that the Bears should be accountable or anyone developing that site to know and identify the exact number of houses going in, right now/today, is preposterous. The plans are still fluid and haven't been finalized. Holding the Bears accountable to say they didn't have specifics around the number of houses officially that would go in there is absurd. Look at the Arlington 425, which has changed the number of units multiple times over the past few years, as the designs were approved, etc. That didn't stop anyone from anything. The school board in AH didn't say shit, while that was all being finalized (hell, they just got another extension the other day). Yet the expectation from the schools, right now, is the Bears would have that locked down for them, and because they didn't, they needed to double the assessment? Come on. That's not how any development works whatsoever.

I go back to the question below. What changed? Either you're an incompetent asshole because you agreed to $80M with Churchill Downs, which wasn't even close to enough of the real value, or you're a greedy pig who wants $160M a year later. Neither is confidence inspiring. They should all get run out on a rail after this is done.

But to make sure everyone is clear, this is how it would work.

The Bears decide to subdivide the parcel (as everyone in development does) and creates a small plot for a residential build in the SE corner near Wilke/Euclid where the OTB and Ditkas were. Let's call it 3 acres (out of the 300+ on the property). Before anything happens, that zoning would have to change, the plans for each house or condo unit would be proposed (and the schools and village and everyone would be aware). The Bears probably wouldn't develop that themselves, they would sell it. Developer A would come in (because they had a better bid/plan than Developer B, C, D and E who all bid on that parcel). Developer A would go to the Village and get their plans rejected (unless Tinaglia is the architect, which is a conflict of interest that I'm not going to go into at the moment). They would recast them, eventually get approved, and then Developer A would negotiate on the property tax valuation while they actually develop the site. They would be on the hook, not the Bears. And when the first person buys the first house, they then pay the property taxes, they have kids that show up to Kindergarten (which is full day in the whole area now that 25 has caught up), and there has been money flowing to the schools for years in property tax before the first kid shows up.

The Bears have asked, until the parcel is subdivided and the plans are finalized, let's keep our tax bill consistent, because until then, it's empty land. No one should interpret that as tax certainty forever. The second the parcels start getting cut up for development, whether it's the Bears or another developer, it will trigger reviews and zoning by all parties. The tax assessment and valuation will be revisited each and every time that happens. That's not a terrible/ridiculous ask given how the development will go and the fact that the property will be vacant for several years. For some reason the schools want the Bears to prepay all of this stuff, and collect their taxes from the developer and home owner down the road too under the guise of what may or may not happen with that subdivided plot of land. So yes, they are greedy assholes, because if Developer A runs into land mines (or further greedy asshole school boards) and drops out and Developer B comes in with a different plan, with different zoning and numbers of units/houses, that will require a different number of classroom space, which would be sorted out well before any of those kids hit a classroom. But the Bears shouldn't have to prepay all of that. Property assessments aren't based on what the property might be, they are based on what the property is today.

Click here for link at https://www.chicagotribune.com/2024/04/11/chicago-bears-amid