Just watched Tim Newman of the Charlotte Regional Visitors Authority spin the NASCAR Hall of Fame as a $138 million entity that poses no risk to the city’s finances. Yes, assuming the revenue from the hotel-motel tax materializes. And if it does not?
Look there is one thing very clear about this proposal that is still shrouded in secrecy, per NASCAR’s request, and that is it depends on a very narrow and eminently avoidable tax. If you don’t stay in a hotel near the Hall, you will not pay it. And if revenues come up light as a result of tax avoidance, what then? NASCAR just agrees to shutter the thing and move on? I don’t think so.
Fortunately, I really doubt Charlotte will get the Hall as its high airfares are a strike against it, while Kansas City’s willingness to spend public money willy-nilly on NASCAR is cited by some as giving it an in.
I sure hope so, for Charlotte’s sake.
PS — And, Tim, if this thing is such a financial gold mine, why isn’t NASCAR rushing to spend its own $138 million on it?
