Kan. Admin. Regs. § 112-17-7 - Development process, fair association and horsemen's nonprofit organization applicant
Each application for a fair association or horsemen's nonprofit organization license in which the applicant proposes to construct or to improve an existing racetrack facility shall contain the following information concerning the applicant's development process:
(a) the total costs of construction of the
facility, distinguishing between fixed costs and projections;
(b) a separate identification of the
following costs, distinguishing between fixed costs and pro-jections:
(1) facility design;
(2) land acquisition;
(3) site preparation;
(4) improvements and equipment, separately
identifying the costs of the items listed in subparagraphs (e) through (n) of
K.A.R. 112-17-3 and other categories of improvements and equipment;
(5) interim financing;
(6) permanent financing; and
(7) organization, administrative, accounting
and legal services.
(c)
documentation of fixed costs;
(d)
the schedule for construction of the facility including the estimated
completion date;
(e) schematic
drawings;
(f) copies of any
contracts with and performance bonds from the:
(1) architect or other design professional;
(2) project engineer;
(3) construction engineer;
(4) contractor and subcontractor; and
(5) equipment procurement
personnel; and
(g) a
statement whether the site is owned or leased. If so, the applicant shall
provide the documentation for the acquisition. If not, the applicant shall
disclose what actions it must take to secure use of the site;
(h) a description of equity and debt sources
of financing, including:
(1) with respect to
each source of equity contribution, an identification of the source, amount,
form, method of payment, nature and amount of present commitment, documentation
and actions which the applicant will take to obtain more certain commitments
and commitments for additional amounts; and
(2) with respect to each source of debt
contribution, an identification of the source, amount, form, method of payment,
nature and amount of present commitment, documentation and actions which the
applicant will take to obtain more certain commitments and commitments for
additional amounts; and
(i) an identification and description of the
sources of additional funds, if needed, due to cost overruns, nonreceipt of
expected equity or debt funds, failure to achieve projected revenues or any
other cause.
Notes
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