NASCAR proposal runs out of gas

OLYMPIA — A Florida-based racetrack developer has abandoned plans for a $368 million NASCAR speedway near Bremerton, where local opposition to the project was fierce.

The International Speedway Corp. (ISC) announced Monday it was pulling the plug on the project, which called for about $180 million in taxpayer-backed financing.

But the company said it will look for other track sites in the state and might come back to the Legislature with another proposal in the future.

"We think the Northwest is still a great opportunity for the company," said ISC spokesman Lenny Santiago. "Hopefully, we can find a way to make this project work."

The company's announcement takes one of this year's big issues off the Legislature's plate.

But lawmakers might still be asked to take up the Seattle Sonics' request for a new taxpayer-funded arena in Renton. On Monday, Gov. Christine Gregoire said she has asked legislative leaders to meet with their caucuses to see how much interest there is in the Sonics' proposal.

ISC has been trying for the past three years to get taxpayer help for a new track in Washington. In 2004, the company proposed building a speedway in Snohomish County. When that fell through, ISC set its sights on Kitsap County.

The company came to the Legislature this year with plans for a 83,500-seat track a few miles from Bremerton. The project called for financing arrangements similar to those for Safeco Field and Qwest Field in Seattle — using locally generated state sales-tax revenue and an admissions tax to help pay for the track.

ISC officials argued that the track, by drawing tens of thousands of visitors from out of state, would generate more than enough additional tax revenue to cover the state's share of the project. The company estimated the track would generate hundreds of jobs and, over time, would provide a $4 billion boost to the state's economy.

But the reception in Olympia wasn't always warm.

In February, the company brought NASCAR legends Richard Petty and Darrell Waltrip to Olympia to help lobby for the track. But the biggest news that came out of that event was over House Speaker Frank Chopp's quip when asked what he thought about Petty coming to town.

"You mean the guy who got picked up for DUI, that guy?" Chopp asked reporters.

It wasn't true, and Chopp later apologized to Petty.

Lt. Gov. Brad Owen, a Democrat who once represented Kitsap County in the Legislature, lobbied aggressively for the proposal. And it was supported by Bremerton's mayor and Congressman Norm Dicks.

But it was bitterly opposed by other local politicians. And of the nine state legislators who represent the Kitsap Peninsula, not a single one backed the track.

They called the proposal "corporate welfare" and warned the track would wreak havoc on the region's traffic and the local environment.

ISC made several revisions aimed at winning over some of its opponents, such as agreeing to let people from the region vote on the proposal. But the company said Monday it had been told more changes were needed for the legislation to move forward.

"These additional changes to the legislation were unacceptable and would have had a significant negative impact on our financial model for the speedway development," ISC President Grant Lynch said in a written statement.

Sen. Brian Hatfield, who sponsored the company's proposal in the Senate, said he was frustrated with the process.

"We're disappointed they couldn't find any support from anyone in the Kitsap delegation," said Hatfield, D-Raymond. "Every time there would be a demand, the demand would be met and the finish line would move."

But Hatfield said he hopes the company will find a new site and be back to the Legislature next year.

"We'd really be missing out not to take this seriously and try to get it somewhere in Washington state," Hatfield said.

Seattle Times reporter Andrew Garber contributed to this story. Ralph Thomas: 360-943-9882 or rthomas@seattletimes.com