(Statehouse) – A bill that would create the Northwest Indiana Stadium Authority was signed into law on Thursday by Indiana Governor Mike Braun. It puts together a framework to bring the Chicago Bears to Northwest Indiana.
Both the Bears and Indiana lawmakers say they are strongly considering a site in Hammond, just over the state line from Illinois and barely 20 miles from their current home of Soldier Field in downtown Chicago.
State Rep. Ben Smaltz (R-Auburn) co-authored the legislation that would make it happen. It would authorize the stadium authority to acquire land, issue long-term bonds, and finance construction of a stadium and related facilities. He said it follows a user-pay model, with bond repayment tied primarily to lease payments supported by stadium-generated revenue and local, event-related taxes within a designated district, such as admissions, food, beverage and innkeeper taxes. This approach is intended to ensure those attending games, concerts and other events at the stadium help fund the project rather than Hoosier taxpayers statewide.
“As a lifelong NFL fan, it’s exciting to see the possibility of bringing the Chicago Bears, one of the greatest football brands in the NFL, alongside the Colts, to Indiana,” said Smaltz, a member of the House Ways and Means Committee. “A modern stadium and surrounding development would attract world-class events and private investments, create jobs and strengthen northwest Indiana’s economy while benefiting the entire state. By using a user-funded model, we can pursue a transformational project while protecting Hoosier taxpayers who may never attend an event at this venue.”
If this comes to fruition, the state would own the facility, while the Chicago Bears would lease and operate the stadium under a long-term agreement of at least 35 years and be responsible for operations, maintenance and improvements. Bonds issued for the project could carry maturities of up to 40 years.
Smaltz said the framework mirrors successful financing models used for major sports venues in Indiana, including Lucas Oil Stadium in Indianapolis, which shows the type of strategic regional collaboration that has helped fuel growth across the state.
He argues that similar targeted projects in northeast Indiana have generated nearly $2 billion in capital investment in recent years, including more than $1 billion in downtown Fort Wayne.
In Springfield, a committee of Illinois legislators passed an amended mega-project bill as they try to keep the Bears in the state.
(Story by Network Indiana)
