BOARDMAN, Ore. (AP) Backers of a giant speedway in Eastern Oregon said they are hoping that 2007 will be the year they break ground on the project.

Steve Brucker, senior vice president of the Oregon International Speedway, said he hoped to have a 3.25-mi. (5.23 km) road course ready for racing in Boardman by June of 2008, after a year of construction.

The racing organization has a lease-purchase agreement with the Port of Morrow for 2,000 acres (809 ha).

Under its agreement with the Port of Morrow, Oregon International Speedway will be allowed to build the road course, a drag strip, .375 mi. (.6 km) oval, a .63-mi. (1 km) oval, a kart-racing course and short off-road course before building a high-bank speedway and stadium.

The agreement provides Oregon International Speedway with 1,400 acres (567 ha) for $200,000 per year, port officials said. After two years, with the development of the proposed high-bank speedway, the port’s lease rate will increase to $500,000 per year.

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