State Agencies, City of Boston and Grand Prix Boston Sign Letter Of Intent Detailing Taxpayer Protections & Other Measures
BOSTON – Several Massachusetts state agencies, the City of Boston and Grand Prix Boston today signed a letter of intent that outlines several taxpayer protections and agreements that all parties intend to negotiate over the next several months. The agreements include protecting taxpayers from any costs associated with the race, requiring that Seaport area streets be returned to pre-event condition and providing regular opportunities for public input on the process. The letter of intent was signed by the Massachusetts Department of Transportation, Massachusetts Bay Transportation Authority, Massachusetts Convention Center Authority, the Massachusetts Port Authority and the City of Boston and acknowledges that all parties will coordinate to develop detailed plans for traffic, security and other measures which are subject to the approval of city and state agencies.
To view the Letter of Intent, visit: http://indycarboston.com/wp-content/uploads/2015/12/2015-12-18_GPB_LOI_compressed.pdf.
“I am pleased that the City of Boston, Grand Prix and our administration have made progress on the project and provided protections for taxpayers, Boston residents and our state,” said Governor Charlie Baker. “Pulling off such a large event will not only showcase what makes Massachusetts and Boston great for thousands of visitors, but will require additional planning, coordination and public input. Our administration looks forward to continued coordination with event organizers and the City of Boston as all participants put together carefully crafted plans to address all of the event’s potential impacts.”
“This agreement is a tangible step forward for the event and will protect our taxpayers, ensure that there is a strong community process and provide the highest level of cooperation among all the agencies involved,” said Mayor Martin J. Walsh. “I thank the other agencies for their coordination in these efforts and look forward to working with them in the months ahead as Boston prepares for this world class event that will boost our local economy and tourism sector.”
“We’ve worked closely with city and state agencies and we’re excited by the progress we’ve all made in recent weeks,” said John Casey, CFO for the Grand Prix of Boston. “We’re committed to bringing this world-class event to Boston, and while we haven’t reached the finish line of the planning process just yet, we will continue to work in partnership with all of the stakeholders involved to host an event that works for residents, businesses, and visitors alike. Now we’re able to prepare to put tickets on sale after the New Year and continue to engage the business community for sponsorship and hospitality partners.”