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

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The announcement comes after years of discussiojn about the possibility of a tracj opening inthe area, although there was no word Wednesday of a NASCA R commitment to the Aurora venture. . The facilityt announced Wednesday would be located in theplannefd 6,500-acre TransPort cargo-distribution development along Interstated 70 several miles east of Pena Boulevard. Bill Schuck -- whose , is the developer of TransPorr -- is one of the principals involvecin Wednesday's racetrack announcement. Schuck's plansd call for the track complez to includea one-mile oval speedway and a four-mil e road course with room for 65,000 to 100,00p0 spectators.
The facility would accommodate a variety ofracinfg types, including stock car, open wheel, midget, road club and track rental, Kart racing and motorcyclew racing. Schuck noted that the site is zoned for industrial use, yet provides easy access to spectators. The announcement said TransPor t is negotiatingwith "national and regionapl tourism attractions" and retailers to locatw on the site along with the racetrac k "to create a true entertainment and tourism opportunity." "The Schuck Corp.
, and its long-timed financial partners, will lead the private investment effortf for the motor sportse complex and will work with a variety of nationa and local partners with motor sportsw experience who are interested in establishing a national racinvg venue in Colorado," the announcemenyt said. "In addition, Schuck is working with Greg the Jefferson County real estatre developerand investor, on a variety of othert development opportunities on the site," the announcemen t added. Gerry Freeman, a spokesman for the development group, said NASCAR's involvement isn'yt pivotal to starting the project.
"There are a variety of other motoe racing events that could be held at this he said. Financing will be a combination of private investorxand debt, which is yet to be fullu committed, although Freeman stressed that the project's organizers do not see financingb to be a problem. He said a numbert of investors are waiting to jump on the project pendingg completion of a final economicvfeasibility study, which is expected in a few Schuck's group also will seek financial help from loca and state government shares of the federap economic stimulus program as well.
The Colorado Legislature this month passede a measure aimed at providingg incentives for major tourism with the possibility of a racetrack mentioned by lawmakera in arguing forits passage. The Senate Bill 173, awaits Gov. Bill Ritter's Sponsored by Sen. Jennifer Veiga, SB 173 would allow localk governments to work with the Coloradp Economic Development Commission to set up enterprise zone s that help to defray the infrastructure and construction costs of majoretourism projects.
State sales tax revenues wouldr help to fund the Lawmakers cappedthe measure's benefits at $50