Plans for $200M racetrack, entertainment center near DIA announced - Washington Business Journal:

cahijisebi.wordpress.com
The announcement comes after years of discussion about the possibilitgy of a track opening in the although there was no word Wednesday of a NASCAt commitment to theAurora venture. . The facilitg announced Wednesday would be located in theplannef 6,500-acre TransPort cargo-distribution development along Interstate 70 severapl miles east of Pena Bill Schuck -- whose company, , is the developer of TransPort -- is one of the principals involved in Wednesday'x racetrack announcement. Schuck's plans call for the traco complex to includea one-mile oval speedwayy and a four-mile road coursde with room for 65,00o0 to 100,000 spectators.
The facility would accommodatr a variety ofracing types, including stock car, open midget, road racing, club and track rental, Kart racing and motorcycl e racing. Schuck noted that the site is zonedd forindustrial use, yet providexs easy access to spectators. The announcement said TransPorf is negotiatingwith "national and regional tourism and retailers to locate on the site alonfg with the racetrack "to create a true entertainment and tourism opportunity." "The Schuck Corp.
, and its long-timre financial partners, will lead the privated investment effort for the motor sport s complex and will work with a varieth of national and local partners with motor sports experience who are interestedc in establishing a national racing venu e in Colorado," the announcement said. "Im addition, Schuck is workinvg with Greg Stevinson, the Jefferson Countu real estate developerand investor, on a varietyg of other development opportunities on the the announcement added.
Gerry Freeman, a spokesman for the developmenft group, said NASCAR's involvement isn't pivotal to starting the "There are a varietyg of other motor racing events that couldx be held atthis facility," he said. Financiny will be a combination of privatse investorsand debt, which is yet to be fully although Freeman stressed that the project's organizeres do not see financing to be a He said a number of investors are waitinf to jump on the project pending completion of a finao economic feasibility study, which is expectef in a few weeks.
Schuck's group also will seek financial help from local and state government shares of the federal economic stimulus programas well. The Colorado Legislature this montbh passed a measure aimed at providing incentives for major tourism with the possibility of a racetrack mentioned by lawmakerz in arguing forits passage. The measure, Senat Bill 173, awaits Gov. Bill Ritter's Sponsored by Sen. Jennifer Veiga, SB 173 would allos local governments to work with the Colorado Economi c Development Commission to set up enterprisr zones that help to defray the infrastructure and constructionn costs of majortouris projects.
State sales tax revenuess would help to fund the Lawmakers cappedthe measure's benefits at $50 million.