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Top News In இல்லினாய்ஸ் விளையாட்டு வசதிகள் அதிகாரம் Today - Breaking & Trending Today

Could the Chicago White Sox make a move to Arlington Park?

No one actively is suggesting the Chicago White Sox are considering leaving the South Side for Arlington Park racetrack, but they might benefit from a move to the Northwest suburbs. ....

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Afternoon Edition: June 4, 2021

Today’s update is a 5-minute read that will brief you on the day’s biggest stories. ....

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Stadium authority lets Chicago taxpayers off the hook, refinances $21.4 million in Soldier Field debt

That pushes off the debt at an up-front cost of $468,000.
“During the most recent legislative session, the City worked closely with the ISFA board as well as the Governor’s office to grant ISFA much-needed refinancing authority and appropriate up to $20 million to address the [2021 fiscal year] shortfall resulting from the precipitous decline in hotel tax revenues during the pandemic that is projected to impact the City’s budget in [the 2021 fiscal year] and beyond,” Chicago’s Chief Financial Officer Jennie Huang Bennett was quoted as saying in a statement.
“Over the course of the pandemic, hotel tax revenues declined 75-90%, creating a one-time, once in a century event that required this adjustment. We appreciate the collaboration from all involved to make this a reality.” ....

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White Sox stadium owner taps Chicago Public Schools exec as CEO

Bilecki, who has spent more than 20 years in public service, including positions with the Cook County Sheriff s Office and Illinois Comptroller s Office, takes the helm at a tricky time for ISFA. The agency saw its main revenue source hotel taxes shrivel over the past 14 months as the pandemic battered the hospitality sector. ISFA relies on hotel tax proceeds to pay back the state for an annual advance it receives to make its debt service payments to bondholders.
The agency s hotel tax proceeds for its fiscal year, which ends June 30, were down by more than 88 percent year-over-year as of May 21, Chief Financial Officer Dana Phillips Goodum told board members today during a virtual meeting. When hotel tax money comes up short of what ISFA needs to pay back the state s advance which was $28 million for the current fiscal year the city is on the hook to make up the difference using its portion of the state income tax. The last deficiency came in 2011, when the city had to contri ....

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