(24 Apr 2024)
RESTRICTION SUMMARY:

ASSOCIATED PRESS
Chicago - 24 April 2024
++STARTS ON SOUNDBITE++
1. SOUNDBITE (English) Kevin Warren, Chicago Bears President:
"What happens here is the additional open and green space. This will have 14 acres of athletic fields, a recreational park."
2. SOUNDBITE (English) Mayor Brandon Johnson (D) Chicago:
"My administration insisted that any new project, especially one on public land, must deliver strong public benefit and public use for the entire city of Chicago. And I am pleased today that this plan does exactly that. "
3. SOUNDBITE (English) Kevin Warren, Chicago Bears President:
"These are the colonnades that exist here along the lakefront. We want to respect and embrace our history and tradition with Soldier Field."
4. SOUNDBITE (English) Kevin Warren, Chicago Bears President:
"So this is the vision here to integrate this campus."
5. SOUNDBITE (English) Kevin Warren, Chicago Bears President:
"From an infrastructure standpoint, you know, there are dollars that we believe exist at the state level, at the potentially federal level, potentially at the city level. And that's on the infrastructure costs,"
++ENDS ON SOUNDBITE++
STORYLINE:
The Chicago Bears unveiled a nearly $5 billion proposal Wednesday for an enclosed stadium next door to their current home at Soldier Field as part of a major project that would transform the city's lakefront, and they are asking for public funding to help make it happen.

The plan calls for $3.2 billion for the new stadium plus an additional $1.5 billion in infrastructure.

The team and the city said the project would add green and open space while improving access to the city's Museum Campus and could also include a publicly owned hotel.

The announcement at Soldier Field comes during a busy week for the Bears.

They are expected to take former Heisman Trophy winner Caleb Williams with the No. 1 pick in the draft on Thursday and bank on the USC quarterback to solidify a position that has long been a sore spot for the founding NFL franchise.

The team said last month it was prepared to provide more than $2 billion in funding toward a publicly owned stadium in the city.

The proposal calls for $2.025 billion from the Bears, $300 million from an NFL loan and $900 million in bonds from Illinois Sports Facilities Authority. The funding from the ISFA would involve extending bonds of the existing 2% hotel tax.

The Bears said the project would generate $8 billion in economic impact for the region.

It would be built in three phases and take up to five years.

The new stadium would be constructed on a parking lot just south of Soldier Field, the Bears' home since 1971.

The team’s lease at the 100-year-old stadium runs through 2033.

Mayor Brandon Johnson gave a fully-throated endorsement, saying the project is in line with Daniel Burnham's “Plan of Chicago.” He said there would be no tax hikes or new taxes for Chicago residents.

“My administration insisted that any new project — especially one on public land — must deliver strong public benefit and public use for the City of Chicago, and I am pleased today that this plan does exactly that,” Johnson said.

Renderings show the Bears’ stadium would have a translucent roof and massive glass panels that would bring in sunlight and allow for views of Chicago’s famed skyline.

The plan is to host major concerts throughout the year as well as Super Bowls, Final Fours and Big Ten championship games.


The plan calls for a pedestrian mall, food and beverage options, a promenade and plaza.









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