Jerusalem Mayor Nir Barkat apparently announced that some kind of F1 race will take place on June 13-14. The exact route is yet to be defined, but it does appear that this summer F1 cars will be screaming past the Old City walls, and going through Mamila, and buzzing by the King David hotel.
http://igoogledisrael.com/2013/01/formula-one-comes-to-jerusalem-this-summer/