TDH: 6/13/11
The Hustle talks to FOX about Formula One
By Wells Dunbar, 1:32PM, Mon. Jun. 13, 2011
For this week at least, City Council has put Formula One on blocks. There's no meeting this Thursday, and the prime topic at tomorrow's council work session will be the somewhat less speedy issue of urban rail. Still, the Hustle went on Good Day Austin this morning to deliver a broad overview of the F1 issues facing council.
As mentioned above, one of the options Sheryl Cole floated last Thursday was making the local organizing team replenish the city's $4 million contribution to the Major Events Trust Fund for years one through six, instead of just year one. Other ways to hold the city harmless she proposed included agreements earmarking parking revenues for city expenses, and similar agreements for capturing taxes/charges of beer or ticket sales at the track (which should happen eventually once the area is annexed outright).
As also mentioned, council's supposedly still set to consider F1 June 23. Although with assistant city manager Sue Edwards tallying 21 items her office needed to address regarding F1 for council, we wouldn't be surprised if council action doesn't take an extra lap or two.
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