DAYTONA BEACH, Fla. —City leaders in Daytona Beach agreed to spend $20 million over 30 years to jump-start a massive Daytona International Speedway project they believe will be an economic monster Wednesday night.
A massive new entertainment complex is being planned right across the street from the Daytona International Speedway.
The speedway, working with a developer, is planning to build an entertainment complex called One Daytona on 181 acres across from the track, including hotels, restaurants, shops and luxury apartments.
Developers asked for help with infrastructure and city leaders said they've structured the loan so that it is risk free-for taxpayers.
Volusia County is also being asked for $20 million and will take up the request at Thursday's County Council meeting.