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Illinois Sports Facilities Authority

All articles tagged with #illinois sports facilities authority

Rate Field Owners React to Amtrak Plans and White Sox Move Threats
sports-and-local-government26 days ago

Rate Field Owners React to Amtrak Plans and White Sox Move Threats

The Illinois Sports Facilities Authority (ISFA) expressed surprise at Amtrak’s proposal to build a $900 million maintenance facility near Rate Field, while simultaneously facing pressure from White Sox minority owner Justin Ishbia to move the team to a new South Loop stadium. ISFA chair Leslie Darling stated the board was unaware of the Amtrak plans, which would impact stadium parking and access. Ald. Nicole Lee and Cook County Commissioner John Daley urged ISFA to oppose the Amtrak project, citing concerns over traffic, noise, and the potential loss of the White Sox to Bridgeport. Amtrak claims it has an easement to build on ISFA property and will coordinate with stakeholders, while Ishbia’s development company, Canal Edge LLC, has proposed a mixed-use 'Railyards' project in the South Loop. The White Sox lease at Rate Field expires in 2029, with an option for 2030. ISFA did not take formal action on either issue at its September 16 meeting.

"White Sox Owner Jerry Reinsdorf Pushes for New Stadium Funding Amid Taxpayer Concerns"
sports2 years ago

"White Sox Owner Jerry Reinsdorf Pushes for New Stadium Funding Amid Taxpayer Concerns"

The Chicago White Sox and owner Jerry Reinsdorf are seeking $1 billion in public funding for a new stadium at "The 78," with plans to use private investment funds from housing, bars, restaurants, and parking to create funding back to the state. Reinsdorf is confident in winning state approval for the complex financial plan, but faces skepticism from Illinois Gov. J.B. Pritzker and other state politicians who are hesitant to use public funding on stadiums. The plan also involves extending the Illinois Sports Facilities Authority's bonds by 30 years and using a 2% hotel occupancy fee to pay for the stadium and Bears' 2003 renovations to Soldier Field. If approved, it could be a significant development in Chicago's history.

"Prospects and Concerns Surrounding White Sox's South Loop Stadium Proposal"
sports2 years ago

"Prospects and Concerns Surrounding White Sox's South Loop Stadium Proposal"

The White Sox and developer Related Midwest are eyeing a new stadium in the South Loop, but questions remain about how the $1.2-1.5 billion project will be funded, potentially involving bonds issued by the Illinois Sports Facilities Authority and tax increment financing. The proposal faces competition from the Chicago Bears, who are also seeking a new stadium, and the state legislature is waiting for more details before making any decisions.