Cool to see that the wheels are still in motion
i’ll put money down that the project will not be complete in 2017.
^ This. Stopped paying attention about 3 years ago already. So many missed deadlines and promises. They even blocked me from their FB page for saying “I’ll believe it when I see it”.
lol, they had an FB page?
that’s somewhere i dont need to go ever
Grants are good.
http://www.bulletnewsniagara.ca/index.php?p=Sections&id=4297
THOROLD - The Canadian Motor Speedway could be making an important lap this week.
At Wednesday’s planning and development services committee meeting, regional council will act on a recommendation brought forward by Reg. Coun. Sandy Annunziata and supported by Fort Erie town council.
It is being proposed that Niagara Region includes the Canadian Motor Speedway lands as a strategic location for investment in its Niagara Gateway Economic Zone and Centre Community Improvement Plan.
If approved, speedway proponents will be eligible for tax incentive grants made available by the Region.
According to the report coming before council at Wednesday’s committee meeting, estimates of costs to the Region, represented by outlined incentive options, range from $1.4 to $1.8 million annually in tax grants, plus $1.5 million in development charge reduction in the project’s first phase of development.
The proposed speedway represents the largest foreign direct investment in Ontario’s tourism sector since 1981 with a potential $400 million in direct, private sector investment and an estimated $450 million in economic impact from development and construction, including up to 1,100 direct and indirect jobs and a projected $890 million in labour earnings.To date, speedway proponents have spent approximately $15 million.
The development’s investors are Emirates Consulting from the United Arab Emirates and The International Investor (TII) from Kuwait.
The Town of Fort Erie has indicated that the CMS project is estimated to generate up to $437 million annually in economic impact.
“The CMS project aligns with council priorities including fostering an environment for economic prosperity, encouraging job creation and private investment, promoting Niagara globally, and working collaboratively with all levels of government and stakeholders to support and expedite sustainable projects for long-term growth,” says the report on Wednesday’s agenda.
If supported by council, regional staff will be directed to continue communicating and coordinating with the Town of Fort Erie and other government agencies regarding infrastructure and servicing work related to the project.
The provincial government has indicated plans to upgrade the QEW overpass at Bowen Road but only for two lanes.
If the speedway is built – the province says a four-lane overpass is needed and that the project’s investors should pay its estimated $38-million cost.
During a presentation to Fort Erie council in March, the speedway’s executive director, Azhar Mohammad, said his team will not be covering this cost.
“We’re not here to build interchanges,” said Mohammad.
The Town of Fort Erie has applied for a grant through the province for $42 million to cover off-site water and wastewater improvements.
Bullet News will be covering Wednesday’s committee meeting.
Check back for updates.
^^^^ that was quick. “Incentives” were approved.
Still going…
The developers of the proposed Canadian Motor Speedway will not be required to upgrade a four-lane interchange off of the Queen Elizabeth Way.
Mohammad said he now expects construction to start in 2017.
http://www.bizjournals.com/buffalo/news/2015/10/22/canadian-motor-speedway-gains-key-ontario.html
“it would have added nearly $40 million and further delayed the project.”
To what, the year 2069?
just saw this… this thread is more than 7 years old… zero results…
They claim serious construction begins this year. Id like to believe that if they claim it will begin, all of the red tape is done with.
Bump. What the hell happen to this idea? Quick Google search shows on Wiki that as of April 2018, the Ontario Government does not want to approve an exit for the highway to the stadium… so the developers wont press on until then.
Zero news on this. I think the last I heard there was some legal limbo stuff @bing heard off-the-cuff, but that was well over a year ago.
Call the Indians up. They will make you a ramp.
Well played. Fort Erie just needs to send them a bill for several million and it’s game on.
“Sorry, race delayed because of tire fires on the track”
I totally forgot about this.
With the clock ticking, Mohammad only has six months left to purchase all three properties, rework the scale of the project to accommodate for the land being sold, and apply for a building permit.
13 years of nothing, start to finish.
Yep, that CNY one never went anywhere either.
https://www.facebook.com/CNYRP/
The site linked on facebook goes to a parked page.
They did push a little dirt around, which is more than I can say for the Ft. Erie one:
Even as he was selling off the land needed for the project, Mohammad again denied that the project was dead and still insisted it was moving forward smoothly
