BREAKING: Full City Council has approved $424 million TIF package for infrastructure improvements in "The 78," where the Chicago Fire are currently building their new home stadium.

@paschutz Hope all those people who complained about the Bears asking for money and referencing this project as “no public funds” are eating their words.

@blobbylight89 @paschutz There’s a substantial difference in what the Bears are asking for and this. This would support fully public infrastructure including a city owned garage and plaza which they can sell the air rights to generate additional revenues. This is an investment, the Bears were a hand out

@Olive_Gordon_ @paschutz You have to be joking… the bears asked for $900m infrastructure. the fire are worth $600m and the Bears are worth $10b. The fire are spending $700m and the Bears would be spending $3b-$4b. Nobody watches soccer, the entire city loves the Bears and would spend way more.

@blobbylight89 @paschutz Correct on the valuations there, but key part you’re ignoring is the city OWNS much of this infrastructure the TIF goes to. In the Bears case they would not. This is money that the city is almost guaranteed to make back, that’s not the case in AH with the Bears. Easy econ here…

@Olive_Gordon_ @paschutz You’re talking about money for a parking garage? That’s how the city is gonna recoup $424m? Good luck. Also, the development the Bears are proposing would generate much more revenue than the Fire can. That’s simple econ.

@blobbylight89 @paschutz They’re planning to sell the air rights above it and then every business there will generate taxes that go right back to the city. That’s why TIF is being used. If you don’t understand TIF/ municipal infrastructure financing just say it…