Cubs not giving up on tax plan to revamp Wrigley

The Chicago Cubs’ proposal to use tax dollars to finance more than $200 million in improvements at Wrigley Field so far has missed the strike zone, but the team’s ownership is not giving up.

When Cubs chairman Tom Ricketts unveiled the plan last month, he had hoped for speedy legislative approval of his financing proposal that required the state to issue bonds on the team’s behalf. He said a bill could be introduced during General Assembly’s veto session held the past few weeks in Springfield.

But the team’s concept never turned into a bill for lawmakers to consider because of objections to how the bonds would be repaid. The General Assembly’s veto session ended Thursday morning.

The lack of legislation on Wrigley did not come as a surprise to many because the Cubs’ plan has received little support from key elected officials. Gov. Pat Quinn and Mayor Richard Daley had both questioned whether renovating a privately owned stadium was a proper use of tax dollars when the state and city are facing budget woes.

http://www.chicagobreakingsports.com



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