Circuit of the Americas Formula 1 Race Track

[bluedogok]

Originally Posted by Spaceman

Drove to the construction site today and two things are obvious. First, the building needs to quicken...The hillside is cleared but I saw no structure of any kind being built..If the weather changes in the fall and winter and rain starts to fall, construction will slow greatly putting a June date at risk..Secondly, on a quiet Sunday, Highway 812 is a mess...We got behind a horse trailer and the twisty road made passing impossible There is no way a quarter of the projected attendance could get in and out of that place...The poor access could ruin this event..No one is going to wait four hours to get into the track and another four to return home.

812 from 130 to the track entrance will be completely redone before the first race. Plus since the city has deemed remote lots and shuttles handle the majority of traffic it will probably easier to get in/out of there than Jerry World. After going to events in other places and utilizing shuttles or subways it is the only way to go. I would hope they have some sort of motorcycle express lane and parking for the MotoGP races. I think with the number of major events and the amount of people that the track can hold that combined attendance could easily exceed that of UT football games. There is a max of 6 or 7 UT home games, most race weekends are three days of paid spectator events and with only three already announced that is 9 days of spectator attendance and after going to the USGP at Indy in 2007 the Saturday attendance is about the same as Sunday. Not sure about the Friday attendance as that is the day that we traveled to Indy but from what I have heard it is typically 75% of a Saturday or Sunday. If the USGP in Austin attracts 150,000 for the race then I would say you could expect at least 125,000 on Saturday and probably 80,000 on Friday.

Also, expect an ALMS announcement for 2013 in the near future and possibly a World Superbike race there as well. There are rumors of DTM (German Touring Car) joining the V8 Supercars weekend. COTA will become the center of non-Nascar based racing in the US in the not so distant future. The only (non-Nascar) event that will be able to come close is the Indy 500.

[the Genral]

And not just 812, 130 will be a mess also. If you've ever been to TMS, I35W is a mess as are all roads leading into the facility. It may keep some from going back, but diehard fans have come to expect major delays arriving and leaving. The key thing is to get there EARLY and don't be in a rush to leave. The loudest complaints will come from those who try to get in right before the race and leave right after it.

[KevinFromTexas]

In that case I can see it being held in the cooler months. Imagine sitting and waiting in this heat next year for four hours. The A/C went out on our car recently, and it's been fun the last few days. It feels like driving across the surface of the sun.

[Jdawgboy]

I wouldn't worry about the construction, things are on schedule and they were not going to start building the structures till later in the summer anyways. In fact they are just now finishing the first construction phase. I believe we should start seeing construction on buildings and grand stands in the next few weeks.

[SecretAgentMan]

Originally Posted by electricron

I didn't write that. What I've been trying to say all along was that I was against both the city and state wasting $250 Million of general funds over 10 years on a race.

That $250 Million could be spent on many other more worthy projects - like roads, schools, and hospitals. Of course, you can and many have argued that these revenues are self generated, that the event itself raises additional taxes. Which is probably true. The same can be said about using TIFs to fund specific projects within the TIF area. But in the case of TIFs, higher tax rates are levied. In this case over race funds, higher tax rates are NOT levied.

The general fund needs to be respected, kept whole, and not piecemeal away for special events. Do we charge liquor taxes to directly support bars and lounges that raised them? Or do we place liquor tax revenues into general revenues so that it can be spent on more worthy programs? The reason so many general Texas programs are being cut is because too many "special" interests and programs funded from general revenues aren't. And please don't suggest the F1 race isn't a "special" interest.

I'm not against the race, I was and will be forever against the State bribing "special" interests with public funds.

TIFs do not involve higher tax rates. They simply capture the increased tax value created by the associated development, exactly like the METF. Public Improvement Districts (PIDs) add an additional voluntary levy to support specific improvements to a district.

[KevinFromTexas]

http://www.statesman.com/opinion/for...y-1581471.html

Formula One deal needs greater transparency

Editorial Board

Updated: 7:05 p.m. Monday, July 4, 2011
Published: 6:48 p.m. Monday, July 4, 2011

We're glad that the City of Austin has required its designated agent, Circuit of Events Local Organizing Committee, to adhere to Texas open government laws. Records that are not exempted will be public and meetings will be open to the public. Those are important requirements for the nonprofit Circuit of Events Local Organizing Committee that acts on behalf of the city in contracting with the Texas Comptroller's Office, as well as the Circuit of the Americas, which is staging the Formula One racing event near Austin next year.

[JoninATX]

Hey guys check out the progress that is happening...

http://www.formula1.com/gallery/other/2011/622.html

[The ATX]

Originally Posted by JoninATX

Hey guys check out the progress that is happening...

http://www.formula1.com/gallery/other/2011/622.html

It's good to see actual construction going on instead of just earth moving.

[KevinFromTexas]

http://www.bizjournals.com/austin/pr...repreneur.html

Formula One makes room(s) for aspiring entrepreneur in Austin

Austin Business Journal - by Vicky Garza, ABJ Staff
Date: Friday, July 1, 2011, 5:00am CDT - Last Modified: Tuesday, July 5, 2011, 8:09am CDT

The asphalt for the track hasn’t even been laid yet, but Formula One fans have already started booking hotel rooms in anticipation of the scheduled June 17, 2012, race day in Austin.

That puts one new Austin entrepreneur, Danielle Crespo, in the pole position. The young graphic designer — one of many jostling to capitalize on the race that popped up unexpectedly last year — has taken the lead in welcoming the hundreds of thousands of event participants and fans expected to descend on Austin for the U.S. stop of the Formula One World Championship circuit.

[BevoLJ]

Last months timelapse. I really like that they are doing these videos for us. Kinda fun to watch them each month as they release them.


• Video Link

[BevoLJ]

This article had something that I'm not sure I had seen before.

http://www.halapic.com/sport/motor/u...supercars.html

USA deal set to attract drivers to V8 Supercars

DEAL: A landmark deal to race in the United States could lure some of the world’s best drivers to V8 Supercars, Ford ace Mark Winterbottom says.

A landmark deal to race in the United States could lure some of the world’s best drivers to V8 Supercars, Ford ace Mark Winterbottom says.

V8 Supercars announced on Friday they’d secured a five-year deal to race in Austin, Texas from 2013 – the latest step in their bold plan to have up to six international events on their calendar.

....

So they want 6 international events? Wow.

[Samwill89]

I wonder if promoters are overestimating the popularity of COA for these events.

[the Genral]

They sold out the Erwin Center for 3 days of tennis, The Longhorns are selling out the 101,000 seat DRK Stadium every game. The COA is gaining events and is far from completed. If they build it, they will come
It just dawned on me, we can land a 1/3 of a billion dollar race track, and we can't even get one of the 2 planned water parks to break ground.

[Jdawgboy]

oh no, they are not overestimating at all. This is the biggest thing to happen to Austin pretty much and its exciting.

[verybadgnome]

Originally Posted by Samwill89

I wonder if promoters are overestimating the popularity of COA for these events.

I worry too. Touting numbers like $300M is nice and all but when I see stuff like, "Montreal, which hosted the most recent race, two weeks ago, on its publicly owned course, pegs the economic impact of that event at about $89 million. Unlike Austin's projections, the Canadian race is mostly attended by locals from Montreal and Quebec" I become a bit more skeptical.

And then you have to ask is that the incremental revenue over and above a normal 3 or 4 days or whatever it is or is that the total revenue for the event.

[hookem]

Do the yearly estimates include things like the construction of the track (which is probably already in the $100M spent already), or the boost in property taxes from valuation for the track and surrounding parcels?

Besides annexing it for property taxes, I know Austin is also chomping at the bit to make money selling water (gotta pay for that new water treatment plant, and CoA water is expensive) and electricity (green energy program) to the facility.

There is really a lot of money coming from this thing. As long as the event isn't a flop, it should keep rolling in... the additional events will definitely help smooth out and bumps in F1 attendance if there is a decline. But from everything I've seen and read, we really can't even understand what the F1 circus is like until it actually comes here.

[Armybrat]

After filing a frivolous lawsuit with no evidence, Alshire withdraws his suit:

http://www.statesman.com/news/local/...s-1593291.html

A judge on Friday granted the plaintiffs' request to withdraw their lawsuit against state Comptroller Susan Combs over a $25 million subsidy for a Formula One race planned at a racetrack southeast of Austin next year.

The lawsuit, filed in state District Court in Travis County by three Austin-area residents June 22, asserted, among other things, that the comptroller had promised the taxpayer money to local race organizer Tavo Hellmund before she was legally authorized to do so.

Bill Aleshire, the lawyer who filed the suit, said Friday that he lacked evidence at this time to move forward. Visiting retired District Judge Gus Strauss signed the motion. The lawsuit can be refiled up until Combs writes a check to F1 organizers.

[KevinFromTexas]

Originally Posted by Armybrat

After filing a frivolous lawsuit with no evidence, Alshire withdraws his suit:

http://www.statesman.com/news/local/...s-1593291.html

LOL So it was all just to stir up the emotions of the public and put pressure on the council to buckle under the pressure of false information and a frivolous lawsuit. Admitting he had insufficient evidence pretty much should ruin his reputation on the matter in any future complaints he files (I hope).

[Armybrat]

Actually he should be reprimanded by the State Bar Texas.

[the Genral]

NASCAR debut at the Kentucky Speedway was disasterous for many fans due to gridlock on the roads leading into the facility. As reported by the AP in Sundays AAS, there were fans who were still just arriving at the halfway point of the race and some who were trying to get in were turned back because as they were finally getting there, organizers were already changing the traffic direction flow for exiting the track. The officials said the traffic was worse than they expected. COA better take notice of this because the same thing will happen here only worse. The inaugural race will attract more people and people from all over the world who will be staying in hotels DT and commuting to the race. If they miss anything due to severe gridlock and realize the gridlock was cause by the fact that there is basically only one country road leading into the place, then the bad publicity this causes will rage on world wide. Hell, it took us 40 minutes to get into the Cedar Park Stadium for my son's graduation last year with only a few thousand trying to get in. They had to delay the ceremony almost an hour because people were still trickling in. If COA developers think their road plan is adequate, then they should be encouraged to spread out porta potties along 812 as well as roadside assistance vehicles to help with overheating vehicles blocking traffic and providing fuel for those who run out of gas in the inevitable long long wait to get in.