The race to the public trough to build a pricey auto-racing complex in Aurora continues.
One of two investor groups seeking significant taxpayer money to build a complex may ask Aurora voters, and possibly metro voters, to extend the 0.1 percent stadium tax that helped build Coors Field and Invesco Field at Mile High.
Pat Hamill, who owns Oakwood Homes, said such a sales tax extension would be “key to getting the facility built,” according to The Post’s Carlos Illescas.
Hamill wants to build a $400 million commercial complex that includes a track suitable for NASCAR racing, but he lacks a contract to bring the famous stock cars here.
It’s early in the process, we realize, but thus far, it’s a questionable strategy. While it’s perfectly understandable that entrepreneurs wish to lure visitors and their dollars to the area, their desire to seek so much taxpayer assistance is a bit unnerving.
In 1990, metro area voters approved the stadium tax to not only build Coors Field but to lure a long-sought professional baseball team to Denver. In 1998, voters extended the tax to build a new home for the Denver Broncos, who were undefeated at the time of the vote and coming off the franchise’s first Super Bowl victory.
Pepsi Center was built without taxpayer financing.
The stadium tax is set to expire in 2012. Racetrack proponents would need to convince metro area voters of its long-term economic benefits, and having some sort of commitment to bring a NASCAR event here would seem to be almost a necessity.
Meanwhile, Colorado Springs developer Bill Schuck also has an interest in building a racetrack in Aurora. Schuck wants to build a $200 million complex. He, too, lacks a NASCAR pledge.
Both investors have jumped in line to ask for up to $50 million in state sales tax revenue potentially available after Gov. Bill Ritter signed legislation that would help projects designed to lure significant regional tourism. Schuck also wants to apply for federal stimulus money.
Proponents say they can make a racetrack work even without NASCAR. And, as we’ve said, we expect they’ll have consultants and analysts preparing glossy reports filled with lightning-strike graphics and promises of great wealth for the metro area.
And, yes, the world of stock-car racing is huge money, and a gas for its followers. Of the 20 top-attended sporting events of the year, 17 of them are NASCAR races. It claims to have more that 100 million fans.
But there already are more that 1,500 races a year at more than 100 tracks in 38 states, Canada and Mexico. That’s a lot of competition.
The early machinations from both groups are enough to makes our heads spin faster than the moonshine runners whose driving exploits created the energy that blossomed into the modern NASCAR. (We’ve been boning up.)
Over time, the picture will grow clearer. But with sales taxes already high, citizens must assess their priorities as we look to grow our infrastructure and tourism amenities.
