LIVE FEED of Today's Austin City Council Meeting re Austin Grand Prix Funding

Austin City Council is meeting today to discuss water and wastewater funding as it applies to the Formula One site in Elroy, Texas. 

We have been advised that Items # 2 and 3 on the Agenda will be discussed at 1:30PM CST today.  You can watch a live feed of the meeting here.

We will also be live-tweeting on our Austin Grand Prix twitter account, which you can read and interact with us at, here.

More details to follow.

Thanks,

@kerrierieo

Update on 2010-11-18 22:40 by Kerri Olsen

Austin City Council voted unanimously, 7-0, to approve agenda items #2 and 3, as they pertain to the funding surrounding water & wastewater services in Elroy, Texas, the future home of The Formula One United States Grand Prix (TM).  Recap and transcript to follow. Here is a pic of our Co-Founder, Kevin Olsen, voicing his support:

A special shout-out to our twitter friends who rode out the technology bumps along the way!

@LoisMarketing

@StatesmanF1

@liamthenry

@TheSpaceBar

@habibiF1

@jsandal

@beerandracing

@bkmre

@karlrolsen

@drhonk

@silverc10

@AustinF1Hotels <-------BIG THANKS for the audio link!!

@proscriptus

@jmarksternberg

@kateafan

@danvolkens

@AlanLitchfield

@macahan2000

@lovelylady60

@mike_griffin_f1

@melindajordan

@kurtbradley

@tmarshalljones

@beerdygeek

@skipbarberRS

@planetf1

And last but certainly not least, Mayor Pro-tem, Austin City Council Mike Martinez - @MPTMike

Update on 2010-11-19 18:08 by Kerri Olsen

Austin City Council is on top of things! In less than 24 hours they've shared the uninterrupted broadcast of yesterday's City Council Meeting in its entirety. 

So, as Mayor Lee Leffingwell introduced Items 2 & 3, "And now, Council, we'll go back to consider F2 and F3..." ;)

Part 1

Part 2

Like what you see?  Wish your City Council was so on top of things?  Why don't you let Austin know how great of a job they're doing and how excited you are about their support and the future home of Formula One racing in the United States!

Contact Austin City Council here (council members directly) or here (web contact form).

Have a great weekend!

25 Million for F1 in Austin

Some conflicting news surfacing about how the new track will be funded.  KXAN claims (in the article just before) that no government money will be used, but Austin Business Journal has just released the following article outlining a $25MM per year agreement with the State of Texas.

Austin Business Journal - 25 Million for F1

We will continue to follow this and add more information as the story unfolds; as of this point, we can't be certain that KXAN was correct, given the ABJ article.  However, it's possible the City of Austin will not foot any of the bill and instead will rely on state funding, perhaps from Rick Perry's Enterprise Fund or from Kirk Watson's bill which created the Sporting Event Trust Fund, Motor Sports Racing Trust Fund and Other Events Trust Fund.

Money, Money, Money! 

KO

"No Government Money Will Be Used"

Really interesting news breaking in Austin: no "government money" will be used for the new Formula 1 racing track to be constructed in Austin, Texas, according to KXAN News Austin. In addition, the coverage indicates a 3.4 mile track will be constructed and will be located within 15 miles of the Austin Bergstrom International Airport, a little further than the 10 miles we heard yesterday.

KO