Arlington Heights trustees approve pre-development agreement with Chicago Bears
ARLINGTON HEIGHTS, Ill. - Arlington Heights trustees voted unanimously Monday night to approve a pre-development agreement (PDA) with the Chicago Bears to pursue a relocation to the site of the former Arlington Race Track.
Two significant factors came out of Monday's meeting: the team acknowledged it will be asking for a public-private partnership to make the move happen, and the village clarified that it will not allow anything to happen without proof that it will recoup those costs and then some.
The PDA is a non-legally binding agreement, but it does represent the first agreement that the board has officially voted on.
It lays out mutual intent and mutual assurances between the two parties.
Either party can back out at any time.
An architect and master planner recapped the Bears' vision, which goes way beyond a stadium. The vision consists of a new mini-city with office buildings, restaurants, parks, retail, etc. in addition to the stadium.
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It is far from a done deal.
"We know many people out there assume there is already a deal done between the village and the Chicago Bears," said Village Manager Randy Recklaus. "But what I can assure you is: this is not the case. This is a significant undertaking. While all parties are moving forward, it's an understatement to say this project is complex."
Recklaus said it could be months before there's any more "news" on this potential move.
The Bears have yet to officially purchase the racetrack property.