ISC gives Washington officials green flag

Daytona Beach–based International Speedway Corp. has agreed to let local officials in Washington State have more of a say in how tax revenue from a proposed racetrack in Bremerton, Wash., would be divided.

New language was inserted into a racetrack-financing bill that has been moving slowly through the Legislature. The measure requires Great Western Sports, an ISC subsidiary, to pay $180 million of the track's estimated $368 million cost, but would use two types of tax-financed bonds for the rest. Bonds financed with sales taxes paid by out-of-state race fans would cover $164 million; other bonds paid for with admissions taxes would pay part or all of the remaining $16 million.

The Senate Ways and Means Committee was scheduled to hear testimony about the bill Monday night, but was not expected to take a vote, said ISC spokesman Lenny Santiago. More at Winston Salem Journal

Social Media Auto Publish Powered By :