Speedway Creates Advisory Councils

(posted Oct 16)

The Speedway Town Council is in the process of creating four advisory committees that will address quality of life issues. The council unanimously approved first reading for the ordinances to establish infrastructure, housing, civic events, and arts councils. The final adoption should be set for the October 27 meeting. In the meantime, people interested in serving on the committees can fill out a statement of interest form.

Resident Joyce Bishop was the first to request to serve on the civic event council at the October 13 council meeting, before first reading was even passed.

Bishop believes she has the qualifications because she was part of the Speedway Promoters Club that organized the Speedway Parade and Fall Festival.

Town Manager Barbara Lawrence gave a brief overview of the committee's functions. The civic events committee will be comprised of nine members that will represent the motor sports industry, the Speedway Lions Club, Speedway American Legion, Chamber of Commerce, parks board, library board, school board, and a Main Street business owner. The advisory council will review non race and some race events. The group will make recommendation for event and vendor fee waivers and establish event standards.

The infrastructure advisory council will look at the town's infrastructure to help give distinct areas of town a "flavor" by using signage. The members will focus on areas outside the redevelopment area. Lawrence explained the council will determine if the committee will become permanent after 18 months. The housing advisory council will examine the abandoned and vacant housing issue and will develop recommendations to improve housing, including senior living. The arts advisory council will establish a public arts initiative and a public arts master plan.

Unlike the town council and redevelopment commission, the ordinances are requiring some of the members to be real estate agents, engineers or architects. Lawrence said the advisory councils will make recommendations to the town council. The infrastructure advisory council included a provision that the town manager is exempt from the residency requirement to serve.

Councilor Lu Hillmer wanted at least one member from each advisory council to update the town council members at their meetings. The advisory councils will also have to comply with the open door law.

During public comments, Bishop made an emotional plea to place the Speedway Redevelopment Commission on hold because of the current economic conditions. She did not want taxpayers overburdened with more debt with upcoming spending projects such as the waste water plant's Long Term Control Plan, estimated $21.3 million, and the library's proposed $225,000 bond for the emergency roof repair. She also wanted to know what the town was doing to control expenditures because it is never really discussed.

The Speedway Navigator proposed creating an audit committee comprised of a residents to review claims and expenses.

President Gary Raikes explained his initial thought was he did not think it would be necessary because the State Board of Accounts audits local governments.

Todd Austin of the State Board of Accounts explained the SBOA would not oppose a citizen committee reviewing the claims. He said a better name for the committee would be claims review committee because the SBOA conducts the audits. The group would serve as an extra pair of eyes to assist the SBOA because the audit process usually just involves a random sample of claims. The citizen group could contact the SBOA if they discovered concerns, so the SBOA field examiner would be aware of certain issues to check for when conducting an audit.

Jo Ellen Dotlich also had concerns about the redevelopment project because of the economic conditions. She said that National Public Radio discussed the stalled municipal bond market, and she warned that Speedway is not in a "bubble" from these global economic woes. She asked for the redevelopment to be placed on hold or to start on Main Street and the Speedway Shopping Center. She contends improving Area two will benefit the Speedway residents. She said the current project of closing Georgetown Road and moving 16th Street will only benefit the IMS. She said the IMS can wait until the economic conditions improve.

Hillmer disagreed and told the ladies not to be "cynical" when referring to the IMS benefiting from the project, because of all of the things the IMS does for the town.

SRC Executive Director Scott Harris said the project is attractive to developers and investors because it is a good project and there is money out there for "good projects." He also discussed other beneficial aspects of the project, including the Urban Land Institute validating the project. Harris explained project has an appeal because it is being financed by TIF funds. He said that the project was reviewed and approved 28-0 for bonding at the October 6 City County Council meeting. Another reason the project is attractive is because of the support from the IMS, Allison Transmission and Praxair. He said the new16th Street right-of-way is not final yet as they are waiting for DPW approval.

Lawrence said that it is not unusual to have bonds ready to go and the timing not be right for the market. She said that happened occasionally in Indianapolis where projects were shelved until the market conditions changed or because of insurance issues. She said the important thing is to stay committed to the plan and to have a good financing team in place for when the market conditions become favorable.

She urged the redevelopment project keep moving even though redevelopment commission would not be bonding "tomorrow."