Company in debt, but racing gets go-ahead for new season

MONROE, Wash. – Racing is set to go ahead at Evergreen Speedway in Monroe this year.

That’s because the company that holds the motor sports racing contract for the speedway has enough funding for another racing season. Johnson Productions LLC still owes Snohomish County about $32,000 for the 2008 racing season.

County spokesman Christopher Schwarzen told The (Everett) Herald Friday Johnson Productions has delivered a letter of credit for $50,000 to the county. Schwarzen said Johnson Productions also has given the county an updated insurance certificate covering motor sports operations at the speedway.

Lex and Danni Johnson, who are husband and wife, own Johnson Productions.

Schwarzen said he doesn’t have a date when the company’s debt with the county will be settled, but said the county “is in conversations” with Lex Johnson “on back money owed.”