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By staff

Several Massachusetts state agencies, the City of Boston and the Grand Prix of Boston powered by LogMeIn signed a letter of intent Dec. 18 that outlines taxpayer protections and agreements all parties intend to negotiate over the next several months in preparation for the Verizon IndyCar Series race to debut Sept. 2-4, 2016, in the city’s Seaport District.

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, Massachusetts Port Authority and City of Boston. The letter 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.

“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 Massachusetts Gov. 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.”

The debut of the Boston race is scheduled as the 15th of 16 events on the 2016 Verizon IndyCar Series calendar. A 2.25-mile temporary street circuit is being developed in the Seaport District.

“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 Boston 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, chief financial officer 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.”