source: The Republican (Danville, Indiana) - issue of Thursday, September 24, 1959 - page 1, columns 6-7:
According to a September 1959 newspaper article, the promoters of the proposed Indianapolis Raceway Park filed a petition with the Hendricks County Plan Commission for a zoning variance so they could build the racetrack. The 155 acre piece of land was described as being between US 136 and 30th Street (aka County Road 300 North) east of Hunter Road (aka County Road 1000 East). The project was estimated to cost $250,000, and the promoters were listed as Rodger Ward (winner of the 1959 Indy 500), Tom Binford (president of the United States Auto Club) and Frank Dickey (a promoter from New Bremen, Ohio).
NOTE: Today the racetrack is known as Lucas Oil Raceway at Indianapolis.