CDN motor speedway - needs OUR support!!
11-05-2012, 08:46 PM
#16
Drifting
This is an interesting angle to the application as no where does it state who will be paying for this usage. Is it the Ministry of Collages and Education? Is it included in McMaster's five year plan? Is the track usage "free" for McMaster? Is there to be a structure built for this use and who will pay for it? I've hunted and cannot find any reference to legal agreements signed between any parties. I cannot find any reference to "funding" in any material posted on the schools website or the Ministries.
So far all this seems to be a 'suggested' use of the property. Perhaps there have been some entry level talks between these two parties but unless the funding has been approved or McMaster has some wealthy donations they are keeping quiet about I rate this as a 'wish list' item instead of hard commitment.
So far all this seems to be a 'suggested' use of the property. Perhaps there have been some entry level talks between these two parties but unless the funding has been approved or McMaster has some wealthy donations they are keeping quiet about I rate this as a 'wish list' item instead of hard commitment.
A few FYI's are involved here. They NEED the positive spin right now as they know that within two weeks the jig is up concerning their NASCAR plans, (and hence, any success for this project). NASCAR has signed an agreement with 3 rivers for Nationwide next year.
CTMP will have their press release for a Craftsmen truck race next year soon with a 'possible' Nationwide event for 2012 not discounted - yet. (Still talking I hear as per a discussion on Saturday night at the CTMP dinner)
This track (Fort Erie) should be sued for mentioning NASCAR at every turn - it's used as a form of marketing and wish_listing then anything based upon signed contracts.
Of course the PR company has it's 'good news' all over 680 News right now, mentioning NASCAR and how they are starting digging this winter (loony!). This is because they need to get some 'spin' before Thursdays GP3R press conference concerning the Nationwide race there in August. Because after that and with pending anouncements from CTMP... locals will be asking some very pointed questions here - as in why don't they just get on with building this track instead of all the anouncements of construction dates that are missed.
The news that the McMaster plans were... (I'll be easy on them here) not agreed to by one half of the groups involved <LOL> isn't news to me. Seems to have caught the residents and council off guard but that isn't hard to do...
http://www.bulletnewsniagara.ca/2012...erie-speedway/
So $30M... was vapour speak. In fact, they never spoke to anyone at Mac.
Lets call all that Mac talk... premature instead of lieing shall we...
They seem to have been heartened by the spring election and getting rid of 'No funding' Dalton and now their great white hope is 'their man' Hudak - who hails from Fort Erie who 'seems' to make warm and fuzy 'noises' about supporting them. Ummm, I thought he was against support like this - didn't he go all ape on Mc Liar for loans to the auto sector?. Hudak will break their hearts by the way at the end of the day when he won't be able to pick up that pen to sign that cheque for them.
11-24-2012, 06:10 PM
#17
Drifting
Update
Remember when I said, 'show us the money'? The land part of this project is the cheapest part of the total budget. Now the two land owners owe thousands in legal bills for nothing and on top of that - somehow got legal advice that signing some sort of holding agreement on their property until 2020 (!) was a great deal?! Exactly what were their lawyers thinking?? One owner is 70 and wants to retire and move. Now he can't do anything? I think new lawyers are required to overturn this agreement. Just watch the City of Fort Erie get desperate and attempt to buy the land with taxpayers funds! Somehow I think such a move would be contrary to Provincial law. (Something about private gain using public money...)
Of course the delaying tactics could be a way to open up the sale agreement to force a lower price from the vendors. The problem for the buyers is that there are two vendors involved and each of them may have a different situation and the project needs BOTH properties to go forward. I think NASCAR going to CTMP and supported by Canadian Tire (sponsor of the track and NASCAR in Canada) was a huge final nail for any funding from offshore.
http://www.niagarathisweek.com/news/...dway-deal-dead
Of course the delaying tactics could be a way to open up the sale agreement to force a lower price from the vendors. The problem for the buyers is that there are two vendors involved and each of them may have a different situation and the project needs BOTH properties to go forward. I think NASCAR going to CTMP and supported by Canadian Tire (sponsor of the track and NASCAR in Canada) was a huge final nail for any funding from offshore.
http://www.niagarathisweek.com/news/...dway-deal-dead
11-26-2012, 05:38 PM
#19
Race Car
Wow this reminds me of some of the wacky deals I used to provide recommendations on in my previous life. These folks would need a really solid business plan with pro-forma financials to be taken seriously by government. Even at that, there is no program I'm aware of that might fund this type of project. IMHO, even with a believable business plan, cash strapped governments are unlikely to provide assistance.
11-26-2012, 09:01 PM
#21
Drifting
Agree. I think the owner of the place made the mistake of outsourcing the business and let the rental part of the business (the tenant) make mistakes and basically kill off the 'track' part of the business. Had the owner taken a hands on approach and work with the locals - the location would still be in use for vehicles.
I would have gone around to the 20 closest homes and offered employment at the track...
Make them part of the process instead of flipping them off.
I would have gone around to the 20 closest homes and offered employment at the track...
Make them part of the process instead of flipping them off.
