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

mytyhona.wordpress.com
The announcement comes after years of discussion about the possibility of a tracj opening inthe area, although there was no word Wednesdayu of a NASCAR commitmentt to the Aurora venture. . The facility announced Wednesday would be locatesd in theplanned 6,500-acre TransPort cargo-distribution development alon g Interstate 70 several miles east of Pena Bill Schuck -- whose , is the developer of TransPort -- is one of the principala involved in Wednesday's racetrack Schuck's plans call for the track complex to include a one-milse oval speedway and a four-mile road course with room for 65,000 to 100,00 spectators.
The facility would accommodate a variety ofracingg types, including stock car, open midget, road racing, club and trackj rental, Kart racing and motorcycle Schuck noted that the site is zonede for industrial use, yet provides easy access to The announcement said TransPort is negotiating with "nationalo and regional tourism attractions" and retailerw to locate on the site along with the racetracmk "to create a true 'destination' entertainmentr and tourism opportunity." "The Schuck Corp.
, and its long-tim financial partners, will lead the private investment effort for the motor sports complex and will work with a varietyh of national and local partners with motorr sports experience who are interested in establishing a nationak racing venue in Colorado," the announcement "In addition, Schuck is working with Greg Stevinson, the Jeffersonn County real estate developer and investor, on a variet y of other development opportunities on the site," the announcemengt added. Gerry Freeman, a spokesmabn for the development group, said NASCAR's involvement isn't pivotal to startinb the project.
"There are a variety of other motor racinfg events that could be held atthis facility," he Financing will be a combinatiobn of private investors and which is yet to be fully although Freeman stressed that the project'd organizers do not see financing to be a He said a number of investors are waiting to jump on the project pending completionj of a final economic feasibility study, which is expecte in a few weeks.
Schuck's group also will seek financiapl help from local and state governmeng shares of the federal economic stimulus program as The Colorado Legislature this month passed a measure aime d at providing incentives for majoetourism projects, with the possibility of a racetrack mentionefd by lawmakers in arguin for its passage. The measure, Senate Bill 173, awaitz Gov. Bill Ritter's signature. Sponsored by Sen. Jennifer D-Denver, SB 173 would allow local governments to work with the Coloradi Economic Development Commission to set up enterprise zones that help to defrayy the infrastructure and construction costs of majorrtourism projects.
State sales tax revenues would help to fund the Lawmakers cappedthe measure's benefits at $50 million.