Laserfiche WebLink
http://www.startribune.com/local/north/27230094.html?page=2&c=y <br />StarTribu ne,com <br />Page 1 of 3 <br />Point your <br />to .ite browser to <br />1 ttp tartribunc L urn <br />Developer's plan: A $200 million <br />NASCAR -ready track in Big Lake <br />A state -of -the -art motorsports track <br />complex, envisioned to attract the biggest <br />names in racing, is being proposed for 400 <br />acres in the Big Lake area. <br />The $200 million facility would be built for <br />90,000 fans and could expand to more than <br />150,000, said the developer, International <br />Motorsports Entertainment and Development <br />Corp. of Coon Rapids. <br />The complex would be financed privately by <br />partners whom corporation president Jim <br />Farnum declined to divulge. "We're not asking <br />for a dime" of public money, he said, adding <br />that he hopes to attract funding from <br />Minnesota corporations. <br />Government officials in Big Lake and <br />neighboring Big Lake Township said they are <br />aware of the proposal, but no formal <br />presentations have been made. <br />Also no hearings have been scheduled. <br />Farnum said he expects to go before city and <br />township officials sometime this year. <br />As conceived, the complex would have a - <br />mile -high banked paved oval, a 1 -mile flat <br />paved oval, a quarter -mile drag strip, a 3/8- <br />mile oval dirt track and a 100,000- square- <br />foot exhibition and convention center. <br />Open space, rail line <br />If financing is secured, bureaucratic <br />requirements are met and races lined up. the <br />facility could have its first full season by <br />2011, said Farnum, adding that the <br />International Motorsports Entertainment and <br />Development Corp. was formed in 2006 for <br />the sole purpose of building this complex. <br />As for the land, situated in Big Lake <br />Township about 40 miles northwest of <br />Minneapolis, Farnum said, "I have a purchase <br />agreement for that already." <br />The Big Lake area was attractive, developers <br />and government officials agree, because of <br />the open space and the Northstar commuter <br />rail line, which will run from Big Lake to <br />Minneapolis and make it easy for fans from <br />the Twin Cities metro area to attend races. <br />The line is scheduled to open by the end of <br />2009. <br />Farnum, 54, said it's his intent for the <br />complex to attract "at the highest levels <br />possible" drivers in stock, road race, drag <br />racing and open wheel (Indy style). <br />Advertisement <br />Ka e Security <br />System! <br />$850 Value! <br />li <br />-i By <br />http://www.startribune.com/templates/fdcp?1282320402962 <br />8/20/2010 <br />