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PostPosted: March 11th, 2015, 10:47 am 
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Joined: January 14th, 2010, 1:16 pm
Posts: 204
http://www.wibw.com/home/headlines/Kans ... 14521.html

typical of our legal system that it is probably too late as the bank was set to foreclose a month ago...

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Steve Oliver
Manhattan, KS


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PostPosted: March 11th, 2015, 12:09 pm 
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Joined: June 25th, 2012, 6:44 pm
Posts: 56
The bank aint gonna forclose. you boys need help with your math. new promoter (cuz city aint selling that property no matter what cuz it's still hundreds of good acres) needs $7 million to improve the property which is half the star bond debt because star bonds only cover 50% of any project. gotta give nhra 2 mill plus repairs to the existing infrastructure like frozen broken water pipes and damage in the buildings on the property and repaving the road course cuz noone wants to race their fancy road cars on gravel. poor mr Irwins claim of $160 million economic impact was really about a third as much in 2011 and dropped to 15% in 2013. that could be bad math or just plain lying. Im gonna go with lying...

The truth to it all is once the star bonds are issued the track dont have to race. it can fail and the star bonds will still get paid with the new bigger star bond district taxes which would have gone to the state. And who makes up for the lost revenue to the state cuz topeka is using it to pay the old and new star bonds? thats right it's every taxpayer in the state pays for topekas screw ups. the city will build whatever it takes to make money on hpt property right on top of the race track if it has to

I aint the smoothest talker but I can add. Support yur local privately owned race track. Them folks work out of their own pockets like most of us not with tax dollars. To quote Carl Flower from the pits of thunder hill "I'll never set foot in Heartland Park"...cept Im a man of my word.


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PostPosted: March 12th, 2015, 7:53 am 
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Joined: January 14th, 2010, 1:16 pm
Posts: 204
I am just spectating following the story...it has been quite the train wreck...

Stockcar80 wrote:
The bank aint gonna forclose. you boys need help with your math. new promoter (cuz city aint selling that property no matter what cuz it's still hundreds of good acres) needs $7 million to improve the property which is half the star bond debt because star bonds only cover 50% of any project. gotta give nhra 2 mill plus repairs to the existing infrastructure like frozen broken water pipes and damage in the buildings on the property and repaving the road course cuz noone wants to race their fancy road cars on gravel. poor mr Irwins claim of $160 million economic impact was really about a third as much in 2011 and dropped to 15% in 2013. that could be bad math or just plain lying. Im gonna go with lying...

The truth to it all is once the star bonds are issued the track dont have to race. it can fail and the star bonds will still get paid with the new bigger star bond district taxes which would have gone to the state. And who makes up for the lost revenue to the state cuz topeka is using it to pay the old and new star bonds? thats right it's every taxpayer in the state pays for topekas screw ups. the city will build whatever it takes to make money on hpt property right on top of the race track if it has to

I aint the smoothest talker but I can add. Support yur local privately owned race track. Them folks work out of their own pockets like most of us not with tax dollars. To quote Carl Flower from the pits of thunder hill "I'll never set foot in Heartland Park"...cept Im a man of my word.

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Steve Oliver
Manhattan, KS


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PostPosted: April 12th, 2015, 1:29 pm 
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Joined: February 7th, 2010, 5:08 am
Posts: 53
Why didn't /doesn't the bank foreclose and then put the track up for sale? Would this not have been cheaper or less costly for the Next???? owner? Forget the Star Bonds and the unneeded expense of 7 million on updates not needed, at least most of them. The road course needs repaved I am sure and there needs to be updates and repairs to the tower among other things.


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PostPosted: April 19th, 2015, 7:21 am 
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Joined: December 28th, 2009, 6:42 am
Posts: 780
That would be to correct & simple Dale, one way or the other the taxpayers are gonna take it in the shorts on this one AGAIN. I'd bet another dollar that Irwin walks away with another check on this deal. As long as the city has their fingers in this deal these things just continue to happen.


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