Formula 1

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.

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News Brief
6:14 am
Thu June 23, 2011

Top Morning Stories June 23, 2011

The Texas House and Senate need to reach a compromise on a bill to overhaul the Texas Windstorm Insurance Association before this special session ends.
Nathan Bernier, KUT News.

Lawmakers at Odds Over Windstorm Insurance

Texas lawmakers are running out of time to overhaul the cash-strapped Texas Windstorm Insurance Association.  That’s the insurer of last resort for people who live along the Texas coast. The Texas Senate approved its version of a TWIA overhaul bill yesterday. It’s very different from the House version which is stricter and limits how much residents could sue TWIA for, if they feel their policy isn’t being honored.

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2:26 pm
Tue June 7, 2011

F1 Organizers Want City to Pay $4 million a Year into Trust Fund

Artist's rendering of Circuit of the Americas
Photo provided by Circuit Events Local Organizing Committee

Austin City Council members heard a presentation today on Formula One Austin, that asks the city to contribute $4 million per year to a fund that would be managed by the group.  The money would come from additional tax revenues generated by people visiting Austin for F1 events.

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Formula One
12:14 pm
Fri June 3, 2011

Date Set for Austin's F1 Race

Austin's first ever Formula One race has been set for June 17, 2012.
Photo courtesy of Circuit of the Americas

The proposed Formula One racetrack has yet to be built southeast of Austin but the date is set for its first race. Mark your calendars:  it’s scheduled for June 17, 2012. If temperatures next year are anything similar to what we're seeing now that could be one hot race, literally.

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2:44 pm
Tue May 31, 2011

No Racetrack Yet, But F1 is Financing Roads in Travis County

The site of a planned F1 racetrack in East Austin.
Photo courtesy of Full Throttle Productions.

A proposed Formula One racetrack southeast of Austin is not a done deal, but that hasn't stopped F1 from helping to fund upgrades to a road that would lead to the track.

Tuesday, Travis County Commissioners voted to accept $375,000 from Circuit of the Americas LLC, to use for improvements to FM 812. Those upgrades would prepare the road for heavier traffic on race days at the as-yet-unbuilt racetrack.

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10:01 am
Fri December 31, 2010

Construction Begins On Austin's Formula One Site

A map shows where the F1 site will be in relation to the airport. Construction officially began yesterday.
Photo by KUT News

Heavy machinery is breaking ground on a plot of land near the airport that will soon host F1 racers from around the world. reports that race promoter Tavo Hellmund was there yesterday to oversee the official groundbreaking.

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11:20 am
Mon November 22, 2010

Firm That Made Cowboys Stadium Will Work on Austin's F1 Track

Dallas-based HKS, which designed and built this structure, among other sports complexes, will work on Austin's F1 track, scheduled to open in 2012.
Image courtesy Cliff Baise

HKS, an architectural firm in Dallas, announced this morning that it will lead the team assembled to build a new Formula One track in Austin. HKS designed and built the Cowboys Stadium in Arlington and the Dell Diamond in Round Rock.

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News Brief
5:28 am
Mon November 22, 2010

Top Morning Stories November 22, 2010

Closing arguments are today in former U.S. House Majority Leader Tom DeLay's trial.
Photo by Erik Reyna for KUT News.

Lawyers to Make Final Pitches in DeLay's Trial

Closing arguments are set for today in Tom DeLay's money laundering trial in Austin.  Prosecutors say the former U.S. House majority leader helped illegally funnel $190,000 in corporate money to Texas candidates in 2002.  DeLay's attorneys say the money swap at the center of the case was legal.  He faces up to life in prison if convicted.

Dallas Firm to Design Formula 1

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