Some Newton residents, including a member of the city council, are expressing doubts about a Georgia investment firm that’s to find 57-million-dollar for a speedway near Newton. Track developers say the money will be there by Tuesday. Governor Tom Vilsack says he’s confident the deal will happen.Vilsack says he knows the “local” people who’re involved in developing the track personally, and they have “great confidence” things will turn out right. “Until I am told that in fact it is not going to happen I will continue to have confidence,” Vilsack says. The entire track project is expected to cost about 70-million dollars. The City of Newton has agreed to put in about 13 million dollars worth of improvements, things like roads and sewers. The state has extended a one million dollar loan and a seven-hundred-thousand dollar grant. In addition, once the track’s up and running, the state will refund the first 12-and-a-half million dollars in sales taxes collected on ticket and concession sales. “So there’s no risk to the state,” Vilsack says. Vilsack made his comments on the Iowa Public Television program “Iowa Press.”
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