Gov. Blanco: $100M Tangipahoa project to include racetrack

BATON ROUGE — Gov. Kathleen Babineaux Blanco today will announce plans by private investors who intend to build a $100-million development in Tangipahoa Parish that will include a large auto racetrack, according to officials who represent the parish.

"I think it will be something that's going to be unique," said state Sen. Ben Nevers, D-Bogalusa, whose district includes Tangipahoa Parish and who has been involved in the negotiations.

Nevers and Parish President Gordon Burgess confirmed that the project plans will be unveiled at a press conference with the governor this afternoon, but they offered few details. Blanco's office said the governor would participate in "a major economic development announcement" at the Governor's Mansion today, but her spokeswoman refused to elaborate.

Burgess said the project would be "race car affiliated" with other developments around the track.

"It's not only a speedway. Certainly, it includes a racetrack, but there are some other things that go with that," Nevers said.

Nevers wouldn't offer specifics about what type of racing would be involved or who was included in the group of investors, saying he wanted to wait until the formal announcement today. He said the $100-million project was the first phase of a larger planned development on private land in the parish.

"It's going to be a tremendous investment for the state of Louisiana," Nevers said.

Burgess said the parish wasn't putting up any money for the project but would assist with sewage, water and road construction for the development. Nevers said the types of incentives to be offered by the state were still under negotiation.
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Anyone here know any details not stated in the article?

 

No details, just some advice, about your breath, like not to hold it!
I tend to dismiss everything that comes out of Edith Bunker Blanco's airhole unless she's shrieking "ARCHIE"!!

Dave

 

http://www.gov.state.la.us/index.cfm?md=newsroom&tmp=detail&articleID=3102


Jul 26, 2007
Louisiana Governor Kathleen Babineaux Blanco announces plans for Louisiana International Speedway



BATON ROUGE - Today Governor Kathleen Babineaux Blanco, in conjunction with Louisiana Economic Development (LED) and sports developer Jerry Lowrie, announced plans for a $100 million multi-purpose motor sports racing facility to be built in Tangipahoa Parish near Kentwood, La. Dubbed Louisiana International Speedway (LIS), the project is expected to generate between 600 and 800 jobs and break ground this summer.

"I am very pleased to welcome a sports facility of this caliber to Louisiana. This facility will not only create jobs and host world class motor sports events - it could also potentially double as a disaster relief location," said Governor Blanco. "A race track is essentially a self-contained city with its own power source, medical center and security force and we look forward to this valuable asset in the future."

Planned for a 1,500-acre parcel immediately west of Interstate 55, the motor sports park will feature a one-mile oval asphalt paved track, a quarter-mile drag strip and a drag boat racing course. LIS officials anticipate events such as stock car racing, National Hot Rod Association drag racing and International Hot Boat Association events to be contested at the motor sports park. Concerts, festivals and other events are also part of the plans for the multi-purpose facility. The first event is expected in the fall of 2008.

Jerry Lowrie, president/founder of Louisiana International Speedway, is a California-based developer with a broad vision for this project. "We have been working on this project for a couple of years and after doing a considerable amount of research we have concluded that this part of the country is an excellent location for this type of sports facility. Governor Blanco and Senator Ben Nevers have been instrumental in making this happen. I can't thank them enough for the help that they have given us," said Lowrie. "I have assembled a team of professionals who are each the best in their respective fields to build the best motor sports facility possible."

"A facility that brings thousands of people into Tangipahoa Parish from the surrounding states will certainly have a very strong economic impact on our communities. We are looking forward to this project coming to fruition," said Bob Basford, executive director of Tangipahoa Economic Development Foundation.

The Louisiana International Speedway is a privately held company with plans to open offices in nearby Kentwood with a sales office in New Orleans.

###

 

1-mile oval? Bleh...

 

What did you expect? Anything with this much hype and backing has to be connected to TRASH-CAR, I mean NASCAR.

Well, at least it may bring some racing and automotive related businesses closer to the area.

Anyone want to back my new "Ferrari Oval Track" car??

Flash

 

I'll believe it when I see it.

 

Exact-amundo! I've heard this song and dance before. Believe it when you hear the first drag car fire up and hit the bleach box! Besides, like John said, a 1 mile oval.... uhhhhhh....WTF!?!?!?!?

Dave

 

For $100,000,000 they could build something better than a paved 1 mile circle.

Edith Bunker Blanco LOL a classic

 

Something must have been lost in translation. $100M is the ammount being tossed aroung BR. Actual cost to build the alleged "track" should be around $50K for a few pallets of quickrete and a mixer rental from Home DePot!

 

$50k is about what I'd expect to see actually spent on the project.
The rest $99,950,000 will go to the corrupt politicians and their cronies.
I wonder if ICF will be in charge of the project.

 

There are tax advantaged bonds available in this area as part of the recovery.

Maybe they are using this to help to fund the project.

 

http://www.ferrarichat.com/forum/showthread.php?t=152204

Remember this post? No connection.

 

Gerard,
that's exactly what I'm talking about. I've heard "we're breaking ground on a state of the art motorsports facility right here in the metro area..blah..blah..blah..yadda...yadda...yadda..." way too many times to count, only to have that announcement be the first and LAST words ever uttered on the subject.
All I can say is, don't hold your breath. If it hapens great! But if I were a bettin' man....

Dave

 

I'm with you Dave!

 

Sounds like this guy is perfect for LA's business and political environment given his "track record":

full article: http://www.2theadvocate.com/news/9412556.html?showAll=y&c=y

my abridged version:

"AMITE — The company that has proposed building a motor racetrack in Kentwood is now facing a lawsuit from an Amite real estate agent who alleges the company has not paid him for services rendered since January.

The suit against Louisiana International Speedway is the latest in the legal troubles of its president, Jerry Lowrie, whose spotty record includes two failed racetrack proposals in California, an Iowa racetrack completed only after he pulled out, and a fraud conviction in New Mexico involving agricultural packing services, court records show...

The racetrack project was announced with fanfare at a June 26 news conference at the Governor’s Mansion.

Two weeks later, Louisiana Economic Development Secretary Michael Olivier said the state was backing away from negotiations with Louisiana International Speedway because of concerns about Lowrie, who lives in Madera, Calif...

Two incarnations of a Yosemite Motor Speedway in Madera, Calif., were never built, and the Iowa Speedway in Newton, Iowa, was built after Lowrie left and other financiers took over, said Ron Kusch, a real estate broker in Fresno, Calif., who said he worked with Lowrie on one of the California projects and the Iowa track.

In New Mexico, Lowrie pleaded guilty in 1994 to two counts of criminal fraud for misrepresenting his packing services to two cantaloupe farmers there, court records show. Lowrie told the farmers that if they used his services, they would not lose money on their crop; he later billed the farmers for various services not disclosed upfront, court records show
Lowrie received an 18-month suspended jail sentence and 36 months of probation, court records show. He also was ordered to pay $10,000 in restitution..."

 

Well crap, I must be one of dem dere psychotics, jus like dos ones down in Jackson square!

Dave