City to begin annex F-1 plan

City to begin annex F-1 plan

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Austin may soon be extending another 12 miles southeast. Council members are planning to annex close to 1,600 acres of land. Most of it is where the Circuit of the Americas, or COTA is quickly coming together.

"This is a place that's growing and it's also going to bring investors to this area," said Wyman Gilliam.

He is the owner of Wild Bubba's grill. The small cozy eatery has seen business flourish in the past few months thanks to it's proximity to COTA. With just over a month before the first F1 race, it's not rare to see people from all over the world stop by. Today it's a group of French track barrier experts.

The 3.4 mile track is expected to bring in more than $300 million into the Austin economy. Annexing COTA would mean an estimated $120,000 a year in sales tax revenues. Over 25 years an overall benefit of $16.2 million in revenue to the city.

"I think it would benefit everybody," said Rick Dhukka, who owns the convenience store next to Wild Bubba's Grill. "Because then we can get extra services, we have no services out here."

If council members approve the annexation this year sales tax revenues would begin coming in next spring and property tax revenues for 2013 the following year.

"I think it's going to bring services out here that are desperately needed," said Gilliam.

He says it's a good thing for Elroy and a great thing for his business which only continues to boom.

The second public hearing on the issue is October 18. Council members could vote on the measure that day.

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