The Arlington Heights Village Board on Monday night signed off on an agreement that establishes what the Chicago Bears would pay in property taxes, a significant step that clears the way for a potential new stadium in the northwest suburb,

The Arlington Heights village board on Monday approved a deal nearly two years in the making that aims to resolve the property tax dispute between the Chicago Bears and three area school districts.

The Village of Arlington Heights Board of Trustees is set to vote on a tentative property tax deal with the Chicago Bears and three local school districts, which would save the Bears $5.4 million a year in property taxes and establish a timeline for the Bears to decide on building a new stadium in the northwest suburbs.

Chicago Mayor Brandon Johnson’s bold plan to fund a new lakefront stadium for the Bears has sparked intrigue and controversy.

Village trustees and Mayor Tom Hayes unanimously approved a deal made public last week that would lower the Bears’ property tax bill to $3.6 million a year for the next three years.