City prepared to forfeit some amusement taxes for Wrigley renovation: sources

As the Cubs ready for their home opener Thursday, Mayor Rahm Emanuel and his administration are in the final stages of negotiating a deal to pave the way for the renovation of 98-year-old Wrigley Field.

If there is an agreement, sources said it’s likely to include a variation of the financing scheme that Emanuel once called a “non-starter”: the city forfeiting 35 years’ worth of amusement-tax growth from the Cubs.

But there’s a new wrinkle: The Cubs have agreed to a minimum guaranteed payment to the city that would increase every year — an attractive proposition after amusement-tax revenues plunged in 2011 along with attendance at Cubs games.

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