Indy set for upgrades with legislation approval

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A bill that would help fund improvements to the legendary Indianapolis Motor Speedway has been approved by the Indiana General Assembly and is now heading for the desk of Gov. Mike Pence.

House Bill 1544, which has passed through the Indiana House and Senate, calls for the creation of an Indiana Motorsports Investment District that will capture sales and income taxes at the commercial property that includes IMS, which will then go toward future investment in the Speedway.

According to the legislation, the track will receive a loan from the state of Indiana for up to $5 million per year for 20 years to complete upgrade projects, and the loan will be repaid through expected increases in income and sales tax collections at IMS — which will kick in $2 million a year over 20 years ($40 million total) themselves toward the improvements.

“We appreciate the hard work done by state lawmakers to ensure Indiana remains the worldwide leader in motorsports,” Indianapolis Motor Speedway Corporation president/CEO Jeff Belskus said in a statement. “This legislation will allow us to make transformative improvements to our 104-year-old facility over the next several years that will greatly enhance the fan experience.”

In addition, the bill also creates a special fund for motorsports-based businesses in Indiana to apply for loans that can help them improve their own facilities. The state will provide up to an additional $5 million annually to the fund, which will be run by the Indiana Economic Development Corporation.

The legislation was introduced into the Indiana General Assembly in February. A Feb. 8 press release from IMS stated potential projects that could occur thanks to the legislation, such as the installation of lights, adding high-definition video boards, and seating and restroom upgrades.

Carb Day: Tony Kanaan is fastest in final practice for Sunday’s Indy 500

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Tony Kanaan wants to put legendary driver and team owner A.J. Foyt back into Victory Lane at the Indianapolis 500.

Kanaan took a big step toward achieving that goal in Friday’s final practice for Sunday’s 102nd running of the Greatest Spectacle In Racing.

Kanaan was fastest of the 33-driver field, with a best lap around the 2.5-mile Indianapolis Motor Speedway oval at 227.791 mph, more than 2 mph faster than the second-fastest driver, Kanaan’s former teammate, Scott Dixon (225.684 mph).

Foyt won a record-tying four Indy 500’s as a driver. It’s been nearly 20 years since he also won as a team owner in 1999 with Kenny Brack behind the wheel.

Marco Andretti was third-fastest (225.200 mph), followed by Sebastien Bourdais (224.815), Charlie Kimball (224.712), 2017 Indy 500 winner Takuma Sato (224.083), Will Power (223.942), Danica Patrick (223.653), Spencer Pigot (223.584) and Ed Jones (223.556).

Other notable driver speeds included:

* Pole sitter Ed Carpenter was 14th fastest (223.219 mph).

* Reigning Verizon IndyCar Series champ Josef Newgarden was 15th (223.186 mph).

* Helio Castroneves, hoping to earn a record-tying fourth 500 win, was 17th (222.913 mph).

* Graham Rahal was 21st (222.526).

* Former 500 winner Ryan Hunter-Reay was 26th (221.916 mph), followed by rookie Robert Wickens (221.821 mph), carrying the mantle for Schmidt Peterson Motorsports with James Hinchcliffe having failed to qualify for the race.

* The biggest surprise was 2016 Indy 500 winner Alexander Rossi, who was 32nd fastest (221.374 mph).

We’ll have the full speed grid, as well as full driver quotes, shortly. Please check back soon.

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