From Jayski.com:

ISC Abandons Plan for Kitsap Racetrack: International Speedway Corp. has given up the fight to build a NASCAR track in Kitsap County [Washington]. ISC officials said they became aware of proposed modifications to their bill in the Legislature that would render it unacceptable. "We're not going to discuss the specific changes that were proposed to us that made us come to this decision," said Lenny Santiago, spokesman for ISC. "As a public company, we need to be accountable to our shareholders." Grant Lynch, president of Great Western Sports, a subsidiary of ISC, said the company had already made a number of concessions to the legislation, but various people were proposing several additional modifications before moving the bill forward. "These additional changes to the legislation were unacceptable and would have had a significant negative impact on our financial model for the speedway development," Lynch said in a prepared statement. "Therefore we have decided to no longer pursue the speedway development at the current location." ISC, based in Daytona, Fla., had proposed a complex funding mechanism to build the 83,000-seat speedway. ISC would provide at least $180 million toward the $368 million track. A public speedway authority would issue about $164 million in bonds, which would be repaid using sales tax revenues expected to be generated by out-of-state fans coming to the track. Santiago would not rule out a future effort in Washington state, but the company is giving up the current location. "We still think the Northwest and Washington is a great opportunity," he said. "It is a huge economic benefit generator for the state, which has a significant fan base. In the interim, our focus will be to regroup internally and decide what the best course of action is."(Kitsap Sun)(4-3-2007)