www.illinois.gov

Pat Quinn, Governor

State Links Skip to Content Skip to State Links

 Government
 Business
 Employment
 Education
 Health & Safety
 Family & Home
 Travel & Recreation
 About Illinois
 Illinois.gov

Stay Informed

Your Government


[Search Tips]

Illinois Flag Honors

Inspector General


 IGNN: State/All Press Release

ILLINOIS NEWS
The State of Illinois News page provides access to the Illinois Government News Network and all state press releases.


FOR IMMEDIATE RELEASE
January 5, 2001

Ryan Approves Lakefront Improvement Plan
Soldier Field reconstruction to be financed without state dollars

CHICAGO -- Governor George H. Ryan today signed legislation to enhance Chicago's lakefront and rebuild historic Soldier Field. House Bill 1284, which Ryan penned at a signing ceremony at Soldier Field, authorizes the Illinois Sports Facilities Authority to issue $387 million in bonds to help finance the $587 million project.

"For years we've seen stadium proposals fall by the wayside in Springfield for one reason or another," Ryan said. "But, this past fall, Mayor Daley and the Chicago Bears came up with a plan that worked and that the members of the General Assembly could support. The citizens of Illinois will now get what they deserve - a world-class stadium right here at Chicago's lakefront."

Under provisions of the legislation, the Illinois Sports Facilities Authority will be authorized to issue $387 million in bonds. The remaining $200 million will come from the Chicago Bears organization, including a $100 million loan from the National Football League. The debt service on the bonds will be paid from the existing hotel tax levied in Chicago.

"I believe this is the best possible outcome for all parties involved, especially Illinois taxpayers," Ryan added.

In addition to the long-overdue Soldier Field renovation, the lakefront improvement project will include 19 acres of new parkland, a new 2,500-space underground parking garage, a veteran's memorial and improvements to McFetridge Drive.


###

News Categories

 State/All
 Governor's Office
 Lt. Governor's Office
 Agriculture
 Budget/Fiscal
 Business
 Children/Families
 Culture
 Disabilities
 Economic Development
 Education
 Environment
 Flag Honors
 Health/Human Services
 History
 Infrastructure
 Opportunity Returns
 Recovery
 Safety/Security
 Technology
 Tourism/Recreation
 Transportation
 Workforce/Jobs

News Resources

 Search the News
 IIS Radio News
 RSS News Feeds
 e-News Subscriptions
 Communications Office
 Privacy Statement

Features

Sign up for an e-news subscription
Copyright © 2014 State of Illinois Site Map | Illinois Privacy Info | Kids Privacy | Web Accessibility | Contact Us