Austin
12:35 pm
Thu June 23, 2011

Read the City’s Draft Agreement on F1

It was a dramatic morning at Austin City Council. Supporters and opponents of a Formula 1 track being built in southeastern Travis County squared off during public comment period. Substantially more people signed up to speak in support of F1 (246 of them), but opponents (26 people) were just as passionate.

City council could vote today on whether to endorse the track. Such a blessing would put the wheels in motion for $25 million in annual state subsidies. So what is the agreement? We posted it above for you to see for yourself. See a fullscreen version here, or download the .pdf here.

The timing of the vote is critical. Incoming city council member Kathie Tovo, takes her seat at the next meeting. She’s skeptical of the agreement. The person she’s replacing, Randi Shade, is not. This is her last chance to vote on the issue.

Meanwhile, as we reported this morning, a lawsuit filed in Travis County district court wants to stop the Texas Comptroller from giving $25 million in incentives for the track.