The developers of the proposed raceway north of Minonk said that everything is on schedule at a public meeting with the Minonk Economic Development Committee.  Developer Randy Hellyer told a packed city hall that you just don't get things done overnight with a $20 million project.  He said they are making sure things are being done right now so that problems don't pop up later.

Hellyer said that the project slowed during the holiday season but that they are working 24-7 to get the raceway project on board for next year.  Financing is still being put together and the ownership structure is being developed.  He said that working with a multiple of attorneys, accountants and investors is a slow process.

Current plans are to start construction this summer on the drag strip in hopes of having races next April.  Hellyer said the raceway will be a phased construction with the drag strip being the anchor.  Construction of the oval track will begin in 2007 and will be ready for racing in 2008.  The last phase will be the construction of the road track in 2008 so that it will be ready for racing in 2009.  Until then portions of the drag strip in conjunction with other auxiliary roads will be used as a road track.

Alderman Steve Mattox asked why the original deadline for breaking ground last October wasn't met.  Hellyer replied that in their enthusiasm they were overly optimistic.  He said that the developer of a race track in DesMoines, Iowa told him it took him 2 years to get financing arranged.  Hellyer said he cannot reveal the financing deals at this time.  He added that they are trying to get the right kind of investors for the raceway and stated that they turned down investors who wanted to turn around and sell the raceway in 7 years and pocket the money.  Hellyer said that he is making a committment to the City of Minonk that the raceway will be around for decades.

Minonk resident Jim Ford asked if the developers are creating a performance bond.  Hellyer said he would discuss it with the city council.  Ford also mentioned the water diversion and sewage problems that could arise from the development.  Hellyer said they would do what is necessary to solve those problems after discussing it with the city council.  Alderman Sean Cunningham said that the developers will be held liable for any impact on the sewer system.

In response to a question asked by Minonk resident Gene Oncken, Alderman Cunnungham said that the city has invested $75,000 in the raceway project so far.  Cunningham said that the city will start to get its money back with sales tax and gate receipts from the raceway and from real estate taxes from the business lots.   Hellyer added that those who have spoken for the business lots are still on tap to take possession of the lots as soon as a redevelopment agreement is signed with the city and the developers take possession of the land.  He stated that they want to get the business lots going right away in order to generate revnue for the raceway.   Oncken told Hellyer that he needs to keep the public better informed on the raceway progress.

Hellyer attempted to assuage the fears of those who are doubting the progress being made on the raceway by asking the public to be patient.  He concluded by saying, " I wouldn't have put $150,000 of my own money in this project if I didn't think it was going to fly".