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Major screw up by COTA will cost them $25 million

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  • Mowingmaniac 24/7

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    "The state’s payment to the track is based on the amount of economic activity the race generates for Texas."

    Ah, yeah, yeah that's it......it's not corruption or anything, it's really the ah 'economic activity and stuff' and no, no way and no how is anyone's pockets being lined, now fork over your tax dollars and be quick about it!

    The blonde in the photo makes want to shout 'tranny alert!
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    Hoji

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    Don’t see why they would need the money. If the state comes out ahead through tax revenues earned and the race wouldn’t happen otherwise (net loss) I’m ok with it.


    What struck me was that they are required to file a human trafficking prevention plan for a race track.


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    This is indeed some .gov fuckery. But hey, if I needed to write a human trafficking prevention plan to get $25mil, it would be the best damned plan you have ever read.

    It would start with “build a wall along our southern border..........”
     

    diesel1959

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    This is indeed some .gov fuckery. But hey, if I needed to write a human trafficking prevention plan to get $25mil, it would be the best damned plan you have ever read.

    It would start with “build a wall along our southern border..........”
    It would seem that they could have just dusted off and merely recycled/reused the plan they used each of the previous years . . .

    So, I gotta say--how stupid are these geniuses?
     
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    TAZ

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    Read the article at the link.

    I did. Which is what lead to the question. They got a break in taxes cause they will generate trillions of dollars in revenue. Now they want a kickback from said revenue.

    I love F1 and MotoGp, but screw that crap. That $$ can go to a trillion better places to help Texas tax payers.
     

    toddnjoyce

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    It would seem that they could dust off and merely recycle/reuse the plan they used each of the previous years . . .

    So, I gotta say--how stupid are these geniuses?

    Ya just gotta get it in on-time. Which apparently they did not. Missed the deadline by a few days.
     

    AustinN4

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    They got a break in taxes cause they will generate trillions of dollars in revenue. Now they want a kickback from said revenue.
    I am not tracking that. You list 2 things in sentence: a tax break and a "kickback". The State is the one that set up the ("kickback") reimbursement fund. It was there for the asking. Lots of others get $ from the same fund.
    And to your first point, what tax break are you referring to that is different than the reimbursement fund?

    From link in OP:

    "Since 2012, the racetrack has been awarded more than $100 million from the state’s Events Trust Fund, which reimburses the organizers of large-scale one-time or annual events. In recent years, the governor’s office has paid millions to the city of Fort Worth, the Dallas Convention and Visitors Bureau, the Houston Sports Authority and the Circuit of the Americas group known as Circuit Events Local Organizing Committee, or CELOC, for events that included Super Bowl LI, the O’Reilly Auto Parts 500 NASCAR race and the 2018 Final Four for NCAA men’s basketball, according to the governor’s office."
     
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    Younggun

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    I did. Which is what lead to the question. They got a break in taxes cause they will generate trillions of dollars in revenue. Now they want a kickback from said revenue.

    I love F1 and MotoGp, but screw that crap. That $$ can go to a trillion better places to help Texas tax payers.

    If they generate trillions in revenue, and the state give $25 billion back, the state still comes out trillions ahead.

    If the race doesn’t come back for reason related to the lack of $25 billion then the state loses trillions in revenue.

    What you are saying is similar to the Cortez claim that 3billion in tax breaks could be spent on other things leading to a net loss of 7Billion or so when amazon said “**** off”.


    Giving a little away in order to attract a lot more makes sense. And based off the numbers you just posted it would make a lot of sense to give that money away in order to keep the race and all it revenue in Texas. I don’t know if your numbers are actually correct though. I have no idea how much tax revenue the state actually got from the event.


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    gshayd

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    Out of f**ks for those folks. The truth is they did not want an antisex trafficking plan because some racing folks were making money off of it. If you have a plan then you can't close your eyes to it. Chances are some bureaucratic slug was checking the block but for some reason he couldn't cover them this time.
     
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