Council OKs amended development agreement for Iowa Speedway
Reducing track’s tax burden offset by ticket surcharge
The Newton City Council unanimously approved an amended development plan for the Iowa Speedway during a special meeting Thursday night.
The goal of the amended development plan is to provide operating capital to the Iowa Speedway that will be used to upgrade existing infrastructure and to build new infrastructure in advance of an anticipated NASCAR Sprint Cup Series race event. Iowa Speedway has long been considered to be at the top of the list for any new race dates in the world’s premier racing circuit.
Iowa Speedway communications director Craig Armstrong was present at the meeting and was asked by Mayor Michael Hansen to describe what the amended deal would mean for the speedway.
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