City rejects part of Bears, White Sox stadium plan NBC Chicago [Video]

Illinois state leaders have told the Bears and White Sox they won’t support separate public funding plans for their respective stadium aspirations.

In an attempt to meet everyone’s needs, the Bears and White Sox have been working to create a joint public funding plan that can satiate the necessities of both teams, the city and the state.

But that’s no easy task, as proven by the city’s recent rejection of a part of the teams’ joint plan.

According to Crain’s Chicago Business, the city rejected a proposal from both teams to use the city’s amusement tax from ticket sales at their respective stadiums to help the debt of the ISFA (Illinois Sports Facilities Authority) bonds attached to both Guaranteed Rate Field and the 2003 Soldier Field renovations.

“The ISFA’s current debt is backed by a 2% tax on hotel stays in Chicago that is meant to provide enough revenue to meet its annual debt …