A handful of investors is considering developing a $30 million car-racing track in East Spokane, attorney Roy Koegen says.


Koegen, managing partner in the Spokane office of Seattle-based Perkins-Coie LLP, says some investors have approached him for counsel about the possibility of having tax-increment financing used to help fund development of such a facility. He says the project is in its early planning stages, and investors havent formed a development enterprise yet or met with city officials to discuss the proposed raceway.


Doug Miller, of Spokane, whom Koegen identified as one of the investors and suggested that a reporter call, says some investors are working on several projects simultaneously, and the part that Koegen is aware of is a small part of the puzzle. Told what Koegen had said, he challenged the informations accuracy, but didnt elaborate. He also said that publicity about the project now is premature.


Koegen maintains that the information is accurate, and reaffirms that while the project is early in the planning process, its a real project.


As envisioned, Koegen says, the facility would have a loop track and spectator seating that could accommodate up to 11,500 people. It would include automotive development and repair facilities as well as capabilities to televise events held there, he says.


The racetrack would host NASCAR-like car races and could be part of a Winston West Series racing circuit, Koegen says. Such racing events typically are three days long and could be large revenue producers, Koegen says. The track also would be used for other events, such as go-cart races or other types of races, he says.


NASCAR stands for the National Association for Stock Car Auto Racing, which has seen its sanctioned races grow in popularity in recent years. The Winston West Series is a NASCAR-sanctioned group of races held at tracks in Western U.S. cities.


Koegen declines to disclose the exact location for the prospective racetrack, but says its in an industrial area.


Weve been told that noise is not a concern with new muffling capabilities, Koegen says.


He also declines for now to disclose information about the investors.


Tax-increment financing, an economic-development tool that Gov. Gary Locke signed into law last month, can be used to fund a variety of public-infrastructure improvements. The law, which will take effect in July, allows tax-increment financing to be used for construction of parks and recreational and entertainment facilities, so its possible that the funding mechanism could be used to finance construction of the entire project.