The Kansas City Star du lieu suivant : Kansas City, Missouri • 61

Tuesday July 1 5 1997 The Kansas City Star D-3S1 i Florida firm still seeks to build local raceway Race track could cost up to $200 million survey indicates support for project Other ISC-owned racetracks By JOE GOSE Stall Writer ANDREW ROHRBACK The Star through a bond sale authorized by the Missouri Transportation Corporation Act The law passed in 1990 promotes the development of transportation projects in Missouri using alternative means Eleven financial institutions initially ordered $145 million of the 30-year bonds when only $40 million was needed Smith Barney Inc which underwrote the bond sale reduced the amount of bonds each financial institution ordered to raise only the $40 million and the bridge company is using about half of the amount to finance the bridge The remaining funds will go toward cost overruns and revenue shortfalls A Kansas City firm considered the project was worth the risk early the planning phases as well HNTB Corp started a $16 million job to plan and design the bridge in 1992 with only half of the money guaranteed "We had conversations with a number of financial advisers that felt like the project had a lot of said Kent Ahrcnholtz project manager for HNTB Skyline is published each Tuesday Write to Joe Close at the Business Desk The Kansas ity Star 729 Grand Blvd Kansas City Mo 64 ION Call him at 234-42H9 International Speedway last week submitted cost proposals to Kansas City and Wyandotte County officials to see if the communities and states could come up with an incentive package to help finance the raceway which could cost up to $200 million or more Initial plans call for 75000 seats and a later phase would add another 75000 A majority of Kansas City area residents would like to see a major raceway locally according to a survey conducted by the research arm of Fleishman-Hillard Inc The company phoned 500 people living in Jackson Johnson Clay Platte and Wyandotte counties apd found that 58 percent of them thought the proposed race track was an or "very idea Sixty percent of those surveyed thought state and local governments should offer incentives to help pay for the track in return for a potential $200 million impact on the area economy through tourism TWenty-nine percent of those surveyed balked at the notion of using incentives The remaining 1 1 percent sure Fine Research Marketing Inc of Daytona Beach which developed an economic impact study International Speedway Corp the Daytona Beach Fla company that wants to put a 1 5-mile race track in the Kansas City area has purchased the Phoenix International Raceway a 65000-seat 1-mile oval International Speedway said it release the amount of ir ney it paid for the race track until today but the acquisition is I not expected to affect the company's desire to build a race track locally Bill France International chairman and chief executive officer said the company was continuing its pursuit to put a race track in the Kansas City area The company also has formed a partnership with Indianapolis Motor Speedway Corp to develop a track in the Chicago area International Speedway bought the Phoenix track from Emmett Jobe who had owned the raceway since 1985 The company plans to add 25000 seats to the complex The camera snaps a picture of the bridge every hour then transfers it to an Internet site Hearing the camera click gives Roeger a measure of satisfaction as he surveys a project that longtime Ozark denizens considered hopeless "I have a good friend who sells mutual funds who told me we wouldn't be able to sell the bonds when we started said Roeger vice president of the Lake of the Ozarks Community Bridge orp a non-profit company building the bridge was more risky than refinancing or reconstructing an existing project" At least eleven financial houses however failed to see it that way The non-profit company financed construction of the bridge for a potential International Speedway track here estimates that three major races each year would annually attract 330000 fans and have a 1 7 1 million to $283 million impact on the economy Fine Research also estimates the construction phase of the project would generate a total of 3378 jobs an $86 million payroll and $63 million spent locally on construction materials Bridge view A camera in Joe office atop a bluff overlooking Shawnee Bend in the Lake of the Ozarks painstakingly tracks the progress of the Lake of die Ozark Commu-nity Bridge for SALE or LEASE Business Butinat Proparty for Loom invottmont Property utmost Property for Loom 1155 1000 JIM STATION Prictd lo Commtf PodaUaa CompattW PdnUrt FAX moral Daiy Waakly Monthly 472-7001 74414 Lii fomlly 1466 octm 5)1-4444 '1 1 Ino WorthouM Mp door avail now atum Al Salaa ft Samoa on IBM ft compatibta upgrades ft rapairt 492-ISM In buamaaa amca 1985 Fan 599 2054 a 511-4444 Mi-mu MUMP Iflnw 14 Trr FSBp-Jbr So ranch hu cul-dt-tac lot back up fo pok duck carp) MfRUSf ipgcf rfca BUY -SELL -TRADE 12042 95th Lanma Ka (913)438-8902 8938 I HMcrast 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