Chicago Cubs trim proposed Wrigley Field signage to win tax credit

The Chicago Cubs will head back to the Commission on Chicago Landmarks as they intend to make changes to the proposed signage, in order to earn a federal tax credit estimated to be worth $75 million.

On Thursday, the Cubs will go back before the commission in a surprise move where they will present a plan for six outfield signs instead of the seven the panel already approved in July. The 2,400 square foot video board in right-field will be reduced in size and moved closer to the foul line. A script ad sign that had been located down the line will slide over into the original placement of the video board. The advertising sign in left-field will be the removed sign from the plan. The size of the video board is unknown, as is the loss of revenue from the changes to the signage.

Da Windy City

The change of plans has occurred after negotiations with the National Park Service to earn a spot on the National Register of Historic Places. Earning that status would be a huge piece for the Cubs financial plan as it would qualify them for tax credits for preserving a historic landmark. The Red Sox reportedly earned a $40 million tax credit after their $285 million project to renovate Fenway. Soldier Field was stripped of its landmark status in 2006 after the saucer-shaped stadium was built within the structure, even though much of the original was retained.

The credit could help to reimburse the team as they continue on the renovations that will cost roughly $600 million. Ownership plans to spend roughly $375 million, meaning the credit would save them roughly 20 percent.

The original plan called for only one advertising sign in right, and a video board in left. After failing to reach a resolution with the rooftop property owners, the Cubs added five more signs to the plan.

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A group of rooftop owners filed a lawsuit against the team, saying the plan violated the ordinance that defines Wrigley Field as a landmark. The case is still pending in federal court. Last month the City of Chicago filed a motion to dismiss the case that the rooftop owners’ view is not protected by the landmark ordinance.

The ongoing battle between the rooftop owners and the team may be far from over, but the Cubs continue to operate as they should, not allowing their business to be dictated by others.