Posted on 04/13/2007 3:10:41 PM PDT by truth49
Washington State officials are sharply divided over two proposals that would use tax dollars to subsidize a NASCAR race track and a basketball arena for the Seattle Supersonics of the National Basketball Association. The bills combined would dole out more than $500 million in taxpayer subsidies for the private sports facilities.
Florida-based International Speedway Corp. (ISC) and Sonics owner Clay Bennett are pushing hard to secure funding for their respective projects.
ISC officials are promoting an 83,500-seat race track as a revenue-generating economic development project. They say the track would attract crowds of out-of-state race fans and generate enough additional sales tax revenue to fund the state's share of the project.
The Sonics are basing their case for taxpayer funding on the multi-use nature of the proposed facility.
Treasurer Slams Subsidies
Washington State Treasurer Mike Murphy (D) is railing against both proposals, calling them terrible deals for taxpayers. He says lawmakers need only look at Qwest Field, Washington's most recent subsidized sports endeavor, to see what a poor return taxpayers received.
The state will pay about $600 million over 25 years to pay off $300 million it borrowed in 1997 to build the stadium for the National Football League's Seattle Seahawks, Murphy said. In the same period, the Seahawks will pay just $25 million in rent while collecting virtually all of the parking, ticket, and concessions revenue.
"We might as well dispense with calling these things public-private partnerships, because they really aren't," Murphy told the state's House Finance Committee on February 20. One day later, in an interview with Jim Brunner of the Seattle Times, Murphy said, "The private side gets rich. The public side gets screwed."
Locals Oppose Track
In Kitsap County, where the NASCAR track would be built, support is weak. None of the state legislators representing the Kitsap Peninsula supports using state dollars to finance the track. Most, including Rep. Sherry Appleton (D-Poulsbo), are actively opposed to the plan.
"I have always believed that public money should be for a public purpose. The track ultimately offers my county nothing," Appleton said. "ISC has been offered 1,000 acres free in Lewis County with access to I-5. If ISC wants a track in Washington State, they should go there and pay their own way."
Citizens Denied Say
Other legislators are troubled by the addition of an emergency clause in both the NASCAR and Sonics bills, which would deny citizens the right to a referendum. State Sen. Mark Schoesler (R-Ritzville) said he doesn't understand the need for an emergency clause.
Speaker of the House Frank Chopp (D-Seattle) has also cooled to the idea of a publicly funded racetrack and basketball arena. He has told reporters other pressing needs such as education should take precedence.
Some Washington officials, particularly Lt. Gov. Brad Owen (D), are thrilled about the prospect of a NASCAR track in the state. Owen has urged skeptical lawmakers to consider the jobs, taxes, and tourist dollars the track could bring.
Commenting on the Sonics arena plan, state Sen. Margarita Prentice (D-Olympia), one of the project's most enthusiastic supporters, has pointed to Denver's Pepsi Center as a model for what a multi-use facility could bring to Washington State. The Pepsi Center was recently chosen as the site for the 2008 Democratic National Convention.
Private Money Works
But critics point out the Pepsi Center was developed entirely by private funds, and that multi-use facilities do not need public funding.
Others point out that ISC, which operates a dozen speedways nationwide, could easily fund the project without tax dollars. Support for the project dwindled further, according to a February 18 article in the Kitsap Sun, after legislators learned the ISC was willing to privately fund the entire construction bill for a track on Staten Island in New York City, but not in Washington.
"The state is not denying NASCAR or the Sonics access to permits to build their facilities. The only thing keeping these structures from being built is the misplaced demand that taxpayers foot the bill," said Jason Mercier, director of the Evergreen Freedom Foundation's Economic Policy Center.
I agree. I simply don’t see NASCAR doing well up here in Seattle area. 6+ months out of the year the facility would be unusable for auto racing due to the weather issues.
If anything was built, I would prefer to see a non-oval type race track facility instead. One that could be used by F1, american le mans, moto gp motorcycle type races, vintage events, indy car, nascar (they could still race on it and it would be a hundred times more exciting), truck series, etc.....
That would rock and greatly increase its usefulness and ability to generate revenue.
What is ridiculous is the taxpayers just payed to have Key Arena remodelled 10 years ago!
And Nascar wants to race in Western Washington the land of rain when you least want it or expect it.
I say, Bye-buh to the Sonics and if Nascar wants to come out to the Northwest the should stick it in the desert near Moses Lake ~ Between Seattle and Spokane.
Basket who?
NB what?
Build it , they will come
and blow up their engines.
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