Road work at NC speedway to receive stimulus funds
CHARLOTTE — North Carolina transportation officials plan to spend $3.5 million in federal stimulus funds to help finance road improvements near a privately owned speedway.
The Charlotte Observer reported Wednesday the state Department of Transportation plans to widen Morehead Road and move it away from the Lowe’s Motor Speedway property in Concord.
Track owner Bruton Smith asked for a $75 million project that included the road improvement two years ago in a deal with local government officials, after he threatened to relocate the track.
Smith had agreed to pay for the roadwork and be reimbursed over several years by the city and Cabarrus County.
That means federal stimulus money will support a project that Smith had already agreed to fund up front. The decision means the $3.5 million won’t be available for another immediate need.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
North Carolina transportation officials plan to spend $3.5 million in federal stimulus funds to help finance road improvements near a speedway, even though the track’s
owner agreed to pay the costs.
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