Portage Redevelopment Commission plans $15 million bond for construction projects after Bears stadium bid fails
By
Doug Ross
Summary
The Portage Redevelopment Commission is planning to issue a $15 million bond to fund various construction projects, including improvements at a 300-acre site on the city's north side that was previously pitched to the Chicago Bears for a stadium. The Bears rejected the proposal (called Halas Harbor) in favor of Hammond. The 20-year bonds would be repaid early if the site sells. Two of the funded projects aim to improve access to that site by extending Burns Parkway.
Source
bskyPortage Redevelopment Commission plans $15 million bond for construction projects after Bears stadium bid failschicagotribune.comKey quotes
· 3 pulledThe Portage Redevelopment Commission is getting ready to issue a $15 million bond for a variety of construction projects, including at the site where the city hoped to build a stadium for the Chicago Bears.
The 20-year bonds would be repaid early, the commission hopes, when the 300-acre site on the city's north side sells.
The city hurriedly put together a pitch for the Bears, calling the site Halas Harbor until the Bears rejected the Hail Mary play in favor of Hammond.
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