Finance Committee approves $425M subsidy for site that includes Fire stadium
<p>Despite myriad concerns, a City Council committee Monday overwhelmingly approved a $425 million tax-increment-financing subsidy to bankroll the public improvements needed to support a South Loop development anchored by a new soccer stadium privately-financed by the Chicago Fire.</p><p>Ald. Pat Dowell (3<sup>rd</sup>), whose ward includes the long-dormant site, muscled the subsidy through the Finance Committee she chairs by successive votes of 30 to 1 and 26 to 4 after nearly three hours of debate and discussion.</p><p>The political pushback came from all sides.</p><p>Some members questioned Mayor Brandon Johnson's commitment to use more than half the public subsidy — $216 million — to build a 1,200-space parking garage that will serve as the “podium” for an open-air plaza and future development high-rise development on the air rights above the garage.</p><p>Others, like Workforce Development Chair Mike Rodriguez (22<sup>nd</sup>), demanded a guarantee that future hospitality jobs created at the 78 and 22,000-seat soccer stadium being built by the Fire's billionaire owner Joe Mansueto will be held by members of Unite Here.</p><p>“I don’t want ...
Reported by 1 outlet — Chicago Sun-Times. See all sources ↓
<p>Despite myriad concerns, a City Council committee Monday overwhelmingly approved a $425 million tax-increment-financing subsidy to bankroll the public improvements needed to support a South Loop development anchored by a new soccer stadium privately-financed by the Chicago Fire.</p><p>Ald. Pat Dowell (3<sup>rd</sup>), whose ward includes the long-dormant site, muscled the subsidy through the Finance Committee she chairs by successive votes of 30 to 1 and 26 to 4 after nearly three hours of debate and discussion.</p><p>The political pushback came from all sides.</p><p>Some members questioned Mayor Brandon Johnson's commitment to use more than half the public subsidy — $216 million — to build a 1,200-space parking garage that will serve as the “podium” for an open-air plaza and future development high-rise development on the air rights above the garage.</p><p>Others, like Workforce Development Chair Mike Rodriguez (22<sup>nd</sup>), demanded a guarantee that future hospitality jobs created at the 78 and 22,000-seat soccer stadium being built by the Fire's billionaire owner Joe Mansueto will be held by members of Unite Here.</p><p>“I don’t want ... to have this to have to come where, at some point, Unite Here is on the street because, if that’s the case, I’ll be here with them,” Rodriguez said.</p><p>Downtown Ald. Bill Conway (34<sup>th</sup>) supported the $174.7 million portion of the subsidy that includes some of the public improvements.
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- <p>Despite myriad concerns, a City Council committee Monday overwhelmingly approved a $425 million tax-increment-financing subsidy to bankroll the public improvements needed to support a South Loop development anchored by a new soccer stadium privately-financed by the Chicago Fire.</p><p>Ald. Pat Dowell (3<sup>rd</sup>), whose ward includes the long-dormant site, muscled the subsidy through the Finance Committee she chairs by successive votes of 30 to 1 and 26 to 4 after nearly three hours of debate and discussion.</p><p>The political pushback came from all sides.</p><p>Some members questioned Mayor Brandon Johnson's commitment to use more than half the public subsidy — $216 million — to build a 1,200-space parking garage that will serve as the “podium” for an open-air plaza and future development high-rise development on the air rights above the garage.</p><p>Others, like Workforce Development Chair Mike Rodriguez (22<sup>nd</sup>), demanded a guarantee that future hospitality jobs created at the 78 and 22,000-seat soccer stadium being built by the Fire's billionaire owner Joe Mansueto will be held by members of Unite Here.</p><p>“I don’t want ...
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Finance Committee approves $425M subsidy for site that includes Fire stadium
Sources1TypeCoverageChicago Sun-Times