11-07-2006, 11:35 AM
(This post was last modified: 11-07-2006, 11:36 AM by Phokaioglaukos.)
I think Steve will post a full report, but the last approval needed is for the FAA to approve the city's sale of the land to the developer. That is not expected to be a problem, but it has not happened yet.
In addition, there is a state proposal to increase the sales tax just for the area covered by the track development by two percentage points. The rate in that area is currently one-half the regular rate because it's a depressed area. If the increase goes through, the additional funds will go to the developer, I understand. It does not seem that this additional payment stream to the developer is a condition to breaking ground.
Check the web site for the track. There is a kart track planned and autocross too, I think, but I'm not sure what phase that is.
In addition, there is a state proposal to increase the sales tax just for the area covered by the track development by two percentage points. The rate in that area is currently one-half the regular rate because it's a depressed area. If the increase goes through, the additional funds will go to the developer, I understand. It does not seem that this additional payment stream to the developer is a condition to breaking ground.
Check the web site for the track. There is a kart track planned and autocross too, I think, but I'm not sure what phase that is.
Chris
981 GT4
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981 GT4
996 GT3 Cup
911 Carrera Sport Coupe
PCA Nationally Trained DE Instructor #200810247
Genesee Valley BMW CCA Instructor