Still haven't heard a solution to the problem... have you? It's sort of like selling out a movie theater for 5,000 people that has a capacity of 1,000. What do you? The way you do things, Simon, is the way I would think 90%+ of the population does things. You get the tickets first, then you arrange the travel. Tickets aren't even on sale and the hotels are booked, and the tour companies (who usually plan pretty well and long in advance) are booking rooms in San Antonio? That's fatal. How on earth are they going to sell the tickets? If they get the track done, and if they don't address this stat, Austin will make China look like a sellout success
Not what I meant. The money has already been appropriated from the general revenue fund....It's in the comptroller's hands now, she doesn't need approval to give it to them. They could however, cancel the event trust funds altogether, and get the money back that way, i guess.....(not going to happen)
...this is the same comptroller who has said that the money is not going to be paid unless it makes sense for the state, and that COTA needs to submit a new application, and that only provable results will lead to the payment... that comptroller? Come on - the money is anything but a sure thing. She said before (even in writing) that it would be paid. Now? It's a political hot potato. Her opponents are using it as leverage against her, and every bit of bad press about COTA doesn't help matters. If public opinion is against giving the money to COTA, I doubt she will. Or, more simply, if it is in her political interests not to pay it, she won't pay it. The idea that nothing has changed other than the timing of the payment is simply untrue. There was broad gov't support for it before. Now, there isn't. The likelihood that the funds are paid is most definitely not the same as it was, say, last summer.
So she said she is going to do her job...this is a good thing. She won't put on a cheerleading outfit, and scream horray about the project, but she'll do her dilligence, and pay, and stand by her decision.... Lol......Never broad government support... TXDot has $2B extract this year.....they should call it a 'highway proving ground' and just pay for it themselves....No need for the METF money then
Come on, at least be honest about what is being said. Combs did not say "I will do my job". She said no money will be spent on F1 until further analysis is completed, including a review of the project in the wake of the NJ GP announcement. You're making out like it's business as usual and everything is the same except the money will be paid later. That's not true. Things have changed. Unfortunately, what you think and what she says are two very different things. There is a very big difference between pre-payment and post-payment. If you don't think so, I suggest you get into the business of microloans for scratch ticket purchases. Let us know how your collection rates look. Yeah, not like the legislature voted for it or anything. Oh, wait... More fantasy. Except we live in reality.
They voted the appropriations in the budget, but not specifically for the track, just for the METF funding.
You're trying to weasel out on semantics. They voted was for the purpose of the track. Not some nebulous vote that wasn't designated for anything. It was for Austin-F1. That doesn't happen without broad support - at the time. Now, things have changed. Man up - that's what happened.
Will you be going by yourself? If so I may have a solution but only time will tell if I'll be able to go.
Not sure yet, I know I have a couple of friends that are interested in going, but nothing is concrete yet (just like the race). I was going to deal with actual logistics after you could actually purchase tickets.
Aswell as I Kyle. I was gonna suggest that if it was just you I'm certain there is plenty room at my friends house, I actually do not know if I will stay there or campout on barnyards property. I'm just sitting back and waiting.
Hi all - this is my first post. Was planning to go to the GP until the mess last fall. After that, I did not have confidence that the organizers would pull off a decent event in their first year. I'm going to the Montreal race instead and will watch the Austin event with interest.
Welcome. I have no doubt many feel the same as you. Montreal is a great event. You won't regret your choice.
I've got some friends that live on 6th, as well as around the downtown area, not sure who if any of them will want to head to the race or not. I am looking forward to an F-Chat get together, provided the race happens of course.
As for the ETF, you are incorrect. The METF gives a 12 month window to assess taxes. The events are supposed to inject so much money in the economy, they project the spin off taxes too (induced and indirect). The period of assessment is 2 months before the race and 10 months after. The ETF only has a 30 day window of assessment. It only counts the direct taxes for the event for one month. If they used the ETF, looking at the Hoyte study, they would only assess about 5 million in direct tax revenue. They wouldn't get squat!
I hate to be a pest but this is wrong wrong wrong. The $25 million is sitting in a dedicated account (can't remember the number) waiting to be triggered by an event that will bring in more than $15 million in state tax. This money could be used for any METF qualifying event (now including the country music awards or Dem/Rep National Convention). That money can be removed and appropriated to another program as long as it has not been moved into a trust fund for an event. It has not been moved yet. It is still sitting in a dedicated account. If you do not believe me, then watch this video where Sen Watson attempts to move the money out of the account, but is voted down on the floor. He does verify the money can be moved out and allocated to something else. Interesting thing is when Sen Ogden says "take the money out next year". That Combs "doesn't think they'll be able to show the economic impact". How did he know that so long ago? Anyway watch the video or keep believing what you want. Texas Senate Discussion of State Incentive For Formula 1 [ame]http://www.youtube.com/watch?v=FFBUB1dS4Ho[/ame]
17MM in tax revenue projected for the weekend....As to counting taxes up to 10 months after the event; The scope of tax revenue that can be counted is rather specific, and has to be directly attributable to the event.
Hi all, I just launched a Ferrari-fan dedicated Facebook page in which to aggregate all info and news regarding our beloved Scuderia and the upcoming GP in Austin as it pertains to local and regional fans. I hope to get some traction and see how it evolves over the months, GP uncertainties notwithstanding. I am modelling the concept on Ferrari F1 clubs that are prolific all over Italy. http://www.facebook.com/FerrariFormula1ClubAustinTexas?ref=tn_tnmn
I am not sure where we're disagreeing... The money hasn't been paid yet. The triggers necessary for it to happen haven't happened, and may not happen. The triggers necessary for it to have been allocated are in dispute. The situation today is very different than the situation last summer. It is anything but a sure thing that the money will be paid. The idea put forth by some that nothing has changed, except the date upon which it will be paid is not true. That's all I'm saying. Things have changed, and it's not a sure thing the money will be paid.
so much for the 90 day inspection... http://www.bizjournals.com/austin/blog/morning_call/2012/03/f1-austin-preparations-full-speed-ahead.html
Candidate questions million-dollar incentives for Texas events http://www.wfaa.com/news/local/Candidate-Questions-Incentives--142698145.html
My family has been working on getting tickets to Austin, and this was a sad but interesting eye opener to what to expect from Austin... Just got off the phone with my new best friend, Tom Greene, from Circuit of the Americas. C of A is only building 3 grandstands for this first race start/finish straight, turn one, and turn 15. The Select Seating Waitlist tickets will cost between $1500 and $5000 per ticket and all three grandstands will be for these ticketholders ONLY. As a member of the Select Seating Waitlist, we will be the first to purchase General Admission tickets in JUNE. I told Tom, we did not want to invest a lot of money for seats when we havent even seen the facility, blah, blah, blah. Anyway, on this SATURDAY, the 17th, AT 2 PM, he is going to call me (us) to discuss tickets. Jim
That includes the PSL I assume? Or is *that* an additional $1500 (?) for 10 years? I don't see anyway this PSL BS is going to work - This isn't the NFL with a brief, 8+ game season that's sold out in most markets to locals who can make every game. I have no interest in flying across the country to watch, eg, Aussie V8's and Motogp, let alone any other events I may "qualify" for. I guess I just don't get it. Cheers, Ian
