FREQUENTLY ASKED QUESTIONS

What is the Speedway Redevelopment Commission?
The commission is made up of five people appointed by the Speedway Town council. Using input from the entire community, the commission is charged with developing a plan to revitalize a 350-acre area, including Speedway’s Main Street. CLICK HERE for more information about redeveloment commissions.

Why does Speedway need a redevelopment plan?
The most successful towns and cities are those that have a strategic plan, or road map that looks forward 10 or even 20 years. The Town of Speedway is creating a similar plan within the redevelopment area to assess potential land use and development strategies on a short or medium term basis. The plan will specifically look at land use, architectural and urban design character, market sensitivity, and development, marketing and business strategies. This plan will help the town attract new businesses, tourists year-round, new residents and improve the quality of life for all of Speedway.

What area is being redeveloped?
A 350-acre area between Main Street on the west, 16th Street on the north,  10th Street on the south and Olin Avenue on the east. The Commission has named this area “The Speed Zone.”

Why is this area called The Speed Zone?
The commission wanted to create a recognizable name for the area to help build an identity for this initial planning phase and then ultimately the rebuilding and developing phase.

What is the goal for The Speed Zone?
To create a vibrant, thriving and attractive downtown that fosters growth within the existing business community and encourages the development of new businesses.

What is the timeline for building or bringing in new businesses?
Of course, the Town of Speedway and Speedway Chamber of Commerce always are talking with prospective businesses. But the master plan will outline a strategic direction for business development and growth. The conceptual plan will be presented in February with the final plan and development strategies completed in May or June.

How will the redevelopment benefit Speedway residents?
The goal is to improve quality of life for all of Speedway. We won’t know any of the specifics until we hear from residents and then begin the planning process. The Redevelopment Commission’s goal is to help create a flourishing community that will translate into higher property values, more community events and better entertainment opportunities.

How can Speedway residents and businesses help?
By attending interactive workshops, town meetings and voicing opinions, you’ll help create a plan that will help make Speedway an even better place to live, work and play. 

How were members appointed to the Speedway Redevelopment Commission and Steering Committee?
The Speedway Town Council appointed the five members of the Redevelopment Commission to a one-year term. At the end of one year the town council can appoint a new member or renew an existing member’s term.

The Redevelopment Commission appointed a 15- member steering committee. That committee is made up of people from a cross section of the community, including neighborhood organizations and other nonprofit organizations. As this process continues there will be many ways for community members to get involved in these redevelopment efforts.

How can other residents get involved and share their ideas?
There are lots of opportunities for involvement.

1. Carburetion Night is the kick-off event on Oct. 12, where residents will learn more about the redevelopment process as well as hear about success stories in other parts of the country from those who have been involved. The public will have a chance to ask questions and meet members of the Redevelopment Commission and Steering Committee.
2. The Speed Zone Work Zone is Nov. 16 to 18. This is when we’re going to roll up our sleeves and start putting ideas to paper. The public is invited to drop in and stay for as little or long as you like. The Redevelopment Commission and Steering Committee will work American Consulting and students and faculty from the Ball State University College of Architecture and Planning to sketch out ideas and brainstorm.
3. Task forces and public input sessions. Once a conceptual plan is developed, there will be lots of opportunity to give feedback and then get involved with the implementation efforts. Check out the Web site, www.redevelopspeedway.com for more information.

Will historic preservation be part of the overall master plan?
Speedway has a colorful and unique history, and we want to retain that historic flavor as much as possible. Architects will conduct a character assessment and historic research on Main Street architecture as well as areas surrounding Speed Zone. Only after those assessments and community input are complete will we begin developing the plan.

Where can I find more information, learn how to get involved and get contact information?
Please visit the Speedway Redevelopment Commission’s Website at www.developspeedway.com to learn more about the project, find dates and times of upcoming public input opportunities, sign up for E-mail updates and find contact information for commission members and Speedway town leaders.

Click here for FAQs about redevelopment commissions- Adobe PDF