Ferrari Mailing List: Re: USGP AUSTIN TX

[clyderomerof4 (clyderomerof4]

This is crazy you have people voting against jobs in this ecomony! 
Austin just has to put in the contract that they own the parking and part of 
the consesion stands an they will come out ahead
But go fiqure 
In a lot of ways the developers get what they deserve
They did due there home work 
What a F*cken mess!


Clyde
Sent via BlackBerry by AT&T

-----Original Message-----
From: Paul Bennett <pbennett [at] macnet.com>
Date: Fri, 24 Jun 2011 18:48:47 
To: Clyde<Clyderomerof4 [at] bellsouth.net>
Cc: <ferrari [at] ferrarilist.com>
Subject: Re: [Ferrari] USGP AUSTIN TX


>Hello
>          By now the Austin Cc probably has voted.
>          I just got out of the hospital so I haven't heard how it went?

Austin council delays vote to next Wednesday

Austin Statesman June 23
The delay came after about three hours of testimony from dozens of 
residents speaking both for and against the track. About 50 
construction workers from the site in bright orange-and-yellow safety 
vests lined the back of the council chambers. During much of the 
testimony, the spacious room was packed elbow-to-elbow.

More than 250 people signed up to speak, although many ultimately 
decided simply to weigh in for or against and not to elaborate.

In the frantic lead-up to Thursday's meeting, the contracts were 
revised several times, and during the meeting and over lunch, city 
officials and F1 lawyers continued revisions.

Before the vote, Richard Suttle, an attorney representing local F1 
organizers, said a delay could derail the project because of a tight 
timetable for state Comptroller Susan Combs to review an agreement 
between the city and race organizers and release a $25 million state 
subsidy in time to meet a late July F1 deadline.

Suttle said time was short for a local "organizing committee" to do a 
required review of the contracts before they go to Combs. He said 
even a short council delay could complicate the schedule because it 
could force committee members to meet near the Fourth of July 
weekend, when he said they might have trouble making a quorum.

"It throws the project into a very bad position if you postpone 
today," Suttle told the council. Although it may be only six days, 
"it is a major concern to the project."

Leffingwell was the lone council member to vote against the delay.

"I think it's fraught with risk," he said. "It could kill the deal 
for the City of Austin."

After the vote, Steve Sexton, president of Circuit of the Americas, 
the F1 race planned for Austin, downplayed the delay's effect. "We're 
in agreement on the substance of the terms. We will be good citizens 
of Austin."

Asked about the delay's effect on the project, he replied, "No, I 
don't believe it puts the entire project at risk."

During the public testimony, critics accused F1 organizers of trying 
to rush the project through without proper oversight. They cited the 
fact that organizers asked for the city's endorsement only three 
weeks ago and noted a recent editorial in Autoweek magazine that 
warns Austin about rushing into a partnership with F1.

Supporters responded that the project has been in the public eye for 
a year and could be a boon for Austin, as well as transform the 
economy of southeastern Travis County.

Wyman Gilliam, the owner of Wild Bubba's restaurant in Elroy, said F1 
would bring needed economic development to the area and be an 
improvement on the landfills, quarries and other industrial projects 
that eastern Travis County has attracted over the years.

"We're known for nice dumps," Gilliam said. "This internationally 
known event will put Austin, Texas, on the global stage. Our side of 
Austin will be a center for industry, research and big-time entertainment."

Suttle and other F1 backers said repeatedly that the city would not 
be required to direct any tax money to the event. "We've taken the 
risk away from you. You have no risk," he said.

Despite the assurances, critics remained skeptical.

To assuage them, Council Member Sheryl Cole instructed City Attorney 
Sabina Romero to read a passage from the contract out loud: "This 
agreement does not require expenditure of city funds into the Major 
Events Trust Fund."

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