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The GECCO
December 5th, 2007, 07:56 AM
From Charlie Thompson, CAMA Manager


December 5, 2007 - HPR What's Happening-Continued!

WOW! So much is happening; I just wish the days were longer so I can follow up on all the things on the To-Do list.

First of all, the fundraising has broken the $400,000 mark. Thanks to all who have contributed and the rest of you please quit procrastinating and write those checks. The web site now includes an email news service, so sign up soon so you don't miss any updates on our progress. Site tours are also available through the Contact Us page at www.HighPlainsRaceway.com .

The legal documents for the funding of the loan program are now complete and in process. An affiliate of CAMA, Colorado Amateur Motorsport Lending Company, LLC (CAMLC) was formed on November 13, 2007. The methods and regulations governing private placement offerings limit the details that can be discussed publicly, however the program is finally in motion. Watch the web site and we will adjust the thermometer as CAMA secures the ability to fund the construction loan from CAMLC.

The first response to the USR was returned to Arapahoe County. While the work of the County Planning staff is still in process, they have begun sending out the necessary referrals and have our application scheduled for a meeting of the Board of County Commissioners for early 2008.

The design team had more meetings and feels confident that the grading and drainage plans are nearly complete. The cad files detailing the track design and necessary grading have been sent to Wilson Motorsport and he has provided some excellent safety suggestions. While the drawings are being analyzed, the team is moving forward with preparing construction design plans for the portions detailing drainage retention ponds and waste treatment. Gary Bute, with SCCA and Clear Lighting & Electrical Design has been busy preparing the design of the underground conduit system that will be laid before paving and provide for all future electrical and communication demands.

Things are to starting to happen in the construction realm as well. The farmer who owns land, at our request, has plowed the east end of the property and planted a short native grass. This blend of grass was recommended to CAMA by the National Conservation Research Center. Planting the grass in November will allow it to germinate with the winter snows and will begin growing in the spring. This seeding was implemented to both provide erosion control while grading and to give us some dust control for the coming race season. Next fall we will replant the areas disturbed by grading. Ben Demeter, with North American Testing and the Colorado Springs Porsche Club, will soon be performing soil sampling strategically along the track layout. This soils data will be key information for the engineers in calculating asphalt thickness and road base requirements. This asphalt data, along with the ability to share the grading cad files should give us the ability to gather accurate project budgets and establish timelines. Once the construction budget has been approved, then we will start the bid solicitation process.

While we do not want to be presumptive of the County process, CAMA is moving forward with scheduling the land closing and planning the submission of construction permits immediately thereafter. We are close to completing these important tasks that will result in an exciting design, permit approval, and land under CAMA ownership along with a construction plan. All that remains is for you to help us complete the fundraising campaign. Keep the contributions coming and tell your friends you are a 'founding contributor'.

Sincerely,

Charlie Thompson
CAMA Manager

DingleBerns
December 5th, 2007, 08:39 AM
That's awesome! Glenn, is there an exact amount of the money raised so far?

motobum
December 6th, 2007, 12:01 AM
how much more money needs to be raised for the track to become a reality?

DingleBerns
December 6th, 2007, 04:01 PM
I believe it is $500K so less than $100K left to raise!

The GECCO
December 6th, 2007, 05:17 PM
We are barely past $400k. The $500k minimum assumes everything in the bidding process stays close to where we previously budgeted. We built a 12% buffer into the previous budget, so hopefully we'll come in OK, but it sure would be nice to raise more and be able to build some "extras" right away.