Circuit of the Americas Formula 1 Race Track

[Jdawgboy]

Originally Posted by turn1

Not much going on out at the track today due to the very wet weather Monday night and Tuesday. Lost most of last week and the last two days. Here's the extent of the action yesterday, as one guy on a loader attempted to direct rainwater to a pump out in the chronically wet low spot between turns 10 & 11.

There will be a dry period for at least a week maybe two though can't rule out a change in the forecast past the 7 day mark. At least for now they have an opportunity to make up for lost time due to rain.

[hookem]

Originally Posted by Jdawgboy

There will be a dry period for at least a week maybe two though can't rule out a change in the forecast past the 7 day mark. At least for now they have an opportunity to make up for lost time due to rain.

KVUE has a story up from today at the track. They talk about how the rain has held up the dirt work, but other construction continues. Also some info about the negotiations with the county.

http://www.kvue.com/news/Circuit-of-...151791035.html

The webcam they refer to is operated by Turn1's co administrator at the Friends of Formula 1 page. You can see it at http://speedcitycam.com . Most of the views are of the track and landscaping area which don't often have much activity, but one shows the tops of the pit/paddock building and grandstand. It's a little hard to see, but in that shot the little building in the foreground (with the doorway but no door) is a mechanical room on the top of the pit/paddock building. The steel behind it is the grandstand. You can usually see some activity in that area.

[turn1]

Statesman, Hellmund seek public access to court records COTA wants kept secret:

http://www.statesman.com/sports/form...medium=twitter

The Austin American-Statesman filed a plea in state District Court in Travis County on Wednesday seeking access to information that has been sealed in a lawsuit by the former head of the Formula One racetrack project against several track investors and officers.

"We want to find out what it is about this lawsuit that has to be kept secret," said Jim George, who filed the action and represents the Statesman. "I've been doing this 20 years, and I've never seen anything like this. Secrecy from the public is never in the best interest of anybody."

A hearing on the Statesman's request is set for May 29.

Statesman Managing Editor John Bridges said keeping all proceedings open is a matter of public interest.

"Court records are open for a reason," he said. "The public's right to access the records in this case is particularly important because the F1 project relies so heavily upon taxpayer money. Taxpayers deserve to know what's happening in a civil suit that could affect that public investment."

However, two district judges — Rhonda Hurley and Scott Jenkins — have already held hearings in which the temporary sealing of information was approved.

A final hearing on the merits of the issue is scheduled before District Judge Lora Livingston on June 11.

George said the newspaper did not receive a notice of the March 26 hearing before Hurley where court proceedings were sealed the first time. At the hearing before Jenkins in which he approved a temporary agreement to keep some information from public disclosure, the Statesman registered its objection. Jenkins said there was still time to file an objection.

Tavo Hellmund, once the face of the Formula One project, and his company, Full Throttle Productions, filed a lawsuit in March against Circuit of the Americas Chairman Bobby Epstein, investors and officers involved in the $300 million Formula One project under construction southeast of Austin. Hellmund said in the suit that terms for his $18 million buyout were not fulfilled and that he was scheduled to make $500,000 a year for 10 years as chairman of the F1 U.S. Grand Prix.

Circuit of the Americas attorneys want court proceedings sealed because they say they would have to divulge business practices that are confidential, said Julie Loignon, a spokeswoman for Circuit of the Americas.

Hellmund's attorneys want all court proceedings open.

"Hundreds of millions of public dollars could be spent on Austin's Formula One project, so this matter is too important to Texas taxpayers to be kept secret," said Eric Wetzel, vice president of Shipley & Associates and a spokesman for Hellmund's legal team.

Public money has already been committed to help put on Formula One racing. Travis County has agreed to pay for at least part of two key road expansions near the track.

Circuit of the Americas could also receive $250 million over 10 years from the state's Major Events Trust Fund if it can prove that it brings in that much in sales taxes.



[turn1]

Originally Posted by hookem

KVUE has a story up from today at the track. They talk about how the rain has held up the dirt work, but other construction continues. Also some info about the negotiations with the county.

http://www.kvue.com/news/Circuit-of-...151791035.html

The webcam they refer to is operated by Turn1's co administrator at the Friends of Formula 1 page. You can see it at http://speedcitycam.com . Most of the views are of the track and landscaping area which don't often have much activity

The views from the cam show lots of ground activity when COTA is doing track/landscaping work, which is most of the time. Weather-permitting, COTA has been working like crazy every day on track & landscaping.

[East7thStreet]

I still don't get how Tavo Hellmund was demanding 18 million dollars. Sure, he was friends with Bernie and was a visionary... but he brought no money of his own to the table in a risky investment that has a track record of failure. F1 races are notorious for losing money and I am sure the investors are doing this more for city boosterism than actual investing.

[turn1]

Originally Posted by East7thStreet

I still don't get how Tavo Hellmund was demanding 18 million dollars. Sure, he was friends with Bernie and was a visionary... but he brought no money of his own to the table in a risky investment that has a track record of failure. F1 races are notorious for losing money and I am sure the investors are doing this more for city boosterism than actual investing.

$18M was the amount that was agreed to but never closed.

If any investors enter into something like this to boost the city, then they are fools. It seems much more plausible that they entered into it because Epstein told them they'd make money.

[turn1]

just a few minutes ago the Statesman came out with a construction report from COTA:

http://www.statesman.com/blogs/conte...s_at_circ.html

Thankfully, it looks like both the T16 and T3 ped bridges are underway.

[hookem]

Perhaps they have swapped the tower for the pedestrian bridges. Because by now they've basically touched on construction/foundation progress of all buildings being constructed except the tower. Also in a recent speed city podcast, a sales guy implied visitor access to an observation tower might be later on down the road.

Although now that I think about it they haven't really updated progress on the T1 or T15 grandstands either. But I'm pretty sure they are putting in some foundation piers for those, judging by recent pics.

So I guess we'll see.

[East7thStreet]

Originally Posted by turn1

just a few minutes ago the Statesman came out with a construction report from COTA:

http://www.statesman.com/blogs/conte...s_at_circ.html

Thankfully, it looks like both the T16 and T3 ped bridges are underway.

Good! Maybe enough people told them in the survey that the flexibility to walk around the track and watch the action from many different angles convinced them. I know I told them in the comment section exactly that. A tower should be secondary in importance to fan experience.

[hookem]

Article about Formula 1/CoTA's economic impact on the surrounding area (from Community Impact News):

http://impactnews.com/articles/circu...80%99s-economy

Hemby said cities should be prepared for F1 fans to spend significantly more during race week.

He highlighted one request his office received from a hotel in Austin.

“One of their clients wanted to know how much it would cost them to simply lease the intersection at First [Street] and Congress [Avenue],” he said. “They just wanted to rent the street. Why? ‘Because I’d like to put my helicopter there.’ ”

[turn1]

Latest COTA aerial:

[the Genral]

I'm trying to see where a drag strip could be added to this track like Paul Mitchell mentioned he'd like to see. I guessing it would have to go either on land due north or south of the property on land they would have to acquire. I personally would like to see drag racing out there.

[turn1]

Hearing now that some black stuff is visible out near turn 1. Don't know yet if it's another sealant application or if it's pavement. WeWillSee.

I may be able to get out there tomorrow to see for myself. If not then, it'll be Monday.

[turn1]

Combs/Patterson F1 METF funding spat unresolved:

http://www.kxan.com/dpp/news/local/a...pat-unresolved

http://www.statesman.com/news/abbott...o-2364112.html

"The facts upon which this office has been asked to opine are disputed, and contested issues of fact are not amenable to the opinion process," Abbott wrote.

Texas Land Commissioner Jerry Patterson, who filed the request for an opinion, said that regardless of the outcome, "We've got more eyes on the trust fund. ... This is not about Formula One. This is about the trust fund."

Officials at Circuit of the Americas, the $300 million track being constructed southeast of Austin, declined to comment on Abbott's opinion.

Patterson said his office has filed open records requests to see whether Combs and her staff complied with state statutes and rules governing the trust, as her office maintains.

"We believe that we've followed the law, and there's nothing in the opinion to say otherwise," said Lauren Willis, a spokeswoman for the comptroller's office.

Combs and Patterson, both Republicans, are eyeing a run for the lieutenant governor's office in 2014, so their dispute carries strong political overtones.

Patterson contends Combs violated rules for the trust fund because she did not determine the additional tax revenue the race would generate. He also has said a request to tap the economic development fund was supposed to come initially from a local government entity or nonprofit, not the comptroller's office.

"This ought to come from the community, not the comptroller," Patterson said. "When Austin was surprised they were selected, they obviously were not involved in the process."

In a 2010 letter to F1 boss Bernie Ecclestone, Combs appeared to promise a $25 million payment to F1 by July 31 of last year.

"We maintain that the letter merely indicated broad support," Willis said.

The money was not paid to Ecclestone by that date, and a contract local promoter Tavo Hellmund had for the race was voided. Construction on the Circuit of the Americas was halted not long after, and Austin's inaugural Grand Prix, the first F1 race in the United States since 2007, was barely saved by a December payment to F1 from the circuit and its investors.

Combs said no money would be paid from the state until after the race, which is scheduled for Nov. 18.

Patterson said: "We have one person who is moving around a lot of money. There needs to be some check and balances on how this is administered."

[turn1]

Got out to the Austin Auto Show today with the boys. Got a couple of photos, including the COTA display and the Ferrari display with Schumi's gorgeous Ferrari F2001. Ferrari's display won "Best in Show".

ETA: The Show said that's the F2001, but is it maybe the F1-2000?

[turn1]

I also took about 30 photos today out at the site.

The backside of the site was very busy, with lots of dirt work going on. The front side was completely idle.

https://www.facebook.com/media/set/e...7330087614878/

As usual, here are a few samples:















New sealant application to Turn 1:


The end of Kellam Road:


Turn 11 Berm:

[Armybrat]

Good shot - the tall cellphone tower in the center of the photo sits right on the edge of my McAngus Road 25 acres:

[turn1]

Originally Posted by Armybrat

Good shot - the tall cellphone tower in the center of the photo sits right on the edge of my McAngus Road 25 acres:

So that's where you are. Pretty much where I had been thinking.

:shag/mandingo:

[Jdawgboy]

Wow ur in a prime location Armybrat.

I really like the limestone walls they have along parts of the track.

[Armybrat]

Originally Posted by turn1

So that's where you are. Pretty much where I had been thinking.

:shag/mandingo:

Yeah, I knew that.

At the SE corner of McAngus where it turns north to Elroy Road there is a subdivided 25 acres between me and the west side of the COTA property.

My Dad tried to buy that place in the '70s to add it to his 25, but the owner built a house on it and subdivided the rest which has a bunch of old trailers & workshops on it now.

Travis County just doubled my appraisal over last year.

The open 49 acres on my west side had a for sale sign on it last fall - my brother (he's half owner of our 25) has thought about buying it. That seems to be a decent askin' price. I've seen another 13 acre property on McAngus west of 130 with a higher price per acre.