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Mansur and SRC Reach Contract Agreement
(posted Feb 18)
The Speedway Redevelopment Commission approved of the negotiated contract
with Mansur Real Estate Services and Greenstreet Development, pending legal
counsel tweaking some verbiage. The vote was 4-0 at the Feb 18 meeting.
The SRC selected Mansur on December 3 to perform the duties as the Speed Zone master developer. Since that time, the two parties have been hammering out a complex contract.
SRC President Vince Noblet said the contract is based on a start up fee
of about $100,000 for Mansur and Greenstreet to come on board, but then
the contract changes the compensation to an incentive fee based on performance
of bringing in new development.
According to Chuck Cagann of Mansur, May is just 72 days away for them
"to roll out the marketing plans" to lure businesses to the Speed
Zone. Cagann sees May as a good opportunity to connect with businesses
associated with IMS events.
In the mean time, Mansur and Greenstreet Development plan to work with
the Urban Land Institute to address key components of the Speed Zone. The
goal is to make the Speed Zone and Speedway a model for urban redevelopment.
The team also plans to send out a request for proposals to four firms to
better understand the project's feasibility.
Resident Helen Kellam still objects to closing Georgetown Road because
she thought it would "strangle Main Street" with no northern
access. She is also concerned about Coca-Cola's reliance on the road and
she doubts if extending Holt Road to 38th Street will happen in her life
time that would provide another north-south corridor road. She said Holt
Road has been discussed for over 40 years and nothing has happened. She
does not want to see the additional traffic spill over into the neighborhoods.
Kellam said she uses the road daily to avoid the series of traffic lights
on Lynhurst Drive. Kellam thought the roundabouts would create an additional
nightmare for race pedestrians trying to get across the street.
Commissioner Ron Fisher said he has been in contact with Coca-Cola and
he thought they were positive about the plan. Fisher said the company plans
to route all the traffic to the north and disperse the trucks from 30th
and 38th Streets. He indicated that Coca-Cola would like to see Holt Road
extended as well.
Fisher claims to be a man of action and expects Holt Road to be extended to 38th Street within in his life time. He expects to use the "500" to help push Indianapolis officials to do the project.
Commissioner Benny Grove said motorists who use Georgetown Road are using it as a short cut. He does not think the 11,000 daily motorists are stopping in Speedway.
Noblet said the police would control traffic at the race but that it might
be a good time to talk to Chief Jeff Dine now to coordinate a plan about
moving race fans and traffic through the roundabout.
Resident Susan Luebbert opposed closing Georgetown Road and its future use as a linear park. Her number one concern is with the displacement of traffic spilling onto Auburn Street. She doubted if motorists would drive farther west to Lynhurst Drive and then north to 25th Street to reconnect to Georgetown Road when Auburn Street is the nearest street west that offers the connection.
She also has a problem with the SRC not asking the small businesses about the importance of Georgetown Road, stating "there was no unified meeting of small businesses" to get a consensus or to discuss closing Georgetown Road.
She wanted to know who would own the park and who would receive the vendor
money. The brochure called "The Speed Zone, Speedway's Future Starts
Now. Transforming a Road Opening Windows of Opportunity. The facts about
Georgetown Road." states the proposed linear park would be privately
owned with public accessibility, so taxes would still be collected. The
linear park would also expand the area for vendors.
She also asked the SRC to initiate a conversation with the IMS to offer pass-outs to eliminate the human bottle necks during the race events and to put the utilities underground, thus eliminating the need to close Georgetown Road.
The brochures uses the argument that Georgetown Road must be close to protect the public from terrorists act and to keep the public from being pinned into the fence while entering and exiting the track.
Noblet said the arrangements are not worked out yet as to the linear park
ownership but that the Indianapolis Motor Speedway would maintain park.
Commissioner Steve Bishop said he would use Lynhurst Drive to get to Georgetown
Road to go to work downtown. Bishop also wanted the public to know he voted
for a linear park with the assumption it would be open and accessible
to the public at all times.
Bishop also abstained from voting on the claims because he was uncertain of an issue that he needed to resolve first.
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