Franklin County commissioners have signed off on a one-year extension on Arshot Investment Corp.’s plan to develop a motorsports and entertainment complex at the former Cooper Stadium site on Columbus’ west side.
Commissioners this week voted unanimously to give the Columbus company until May 3, 2011 to close on a deal to buy the county-owned, 46-acre site. The amended contract tacks $100,000 to Arshot’s purchase price, now $3.4 million, but gives the firm time to clear Columbus zoning hurdles and address contract contingencies.
Arshot nearly two years ago took out an option to buy the 78-year-old baseball park with plans to convert it to a motorsports complex. The company has pledged an investment of up to $40 million, the creation of 300 full- and part-time jobs and the construction of 35-foot tall sound walls around the track to reduce noise, concerns over which have drawn heavy criticism from area residents.
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clipped from columbus.bizjournals.com
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