Thu June 23, 2011
Austin City Council Delays F1 Vote Till Wednesday
Saying they need more time to consider a proposal to endorse a Formula One track being constructed in southeastern Travis County, Austin City Council members voted 6-1 to postpone a vote on a deal that would unlock $25 million in state subsidies to pay for costs associated with F1 races in Austin. Mayor Lee Leffingwell was the lone dissenter.
“This has obviously been a difficult, complicated proposition,” Council member Chris Riley said from the dais before the vote to postpone. “In making sure we get the details of the agreement right, recognizing that there is some risk, I would be willing to support the motion [to delay a decision], but I am hopeful that we will be able to finalize the deal.”
Council members heard from supporters and opponents of the deal throughout the day. Skeptics said the city was acting too fast to make a major commitment with racetrack organizers. Proponents said delaying a vote could potentially kill the deal and the local economic benefits that they say would come with it.