Cutting the Speedway Assessment in half has to be one of the, I can’t think of a proper word to use of what I think of this. But that is the way this city does things: have a special meeting with 24-hours notice and shove it through.
If this such a good idea, raising the money to pay the debt on the bonds by adding a user fee, why does the speedway not just raise their ticket cost by the $4? Then they will generate the extra revenue without any risk to the city.
Also, they want to combine the Speedway TIF with the Prairie Fire TIF. The only reason I can see for this is so they can use the extra revenues from the Prairie Fire TIF to subsidize the shortfall of revenues in the Speedway TIF without anyone knowing about it.
Also, if the extra revenues from the Prairie Fire TIF are used within the now-Speedway TIF, those extra revenues do not go back the other taxing bodies.