11/01/2010 Council Packet - Laserfiche WebLink

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Industry Analysis IMEDC believes that an untapped market exists locally for professional motorsports entertainment as well for safe amateur racing. Furthermore, we feel that a number of societal, demographic and economic factors will drive previously unrecognized demand for the types of services the facility offers. Tracks provide a relatively safe venue in which to explore the performance of a sports car or motorcycle. They also provide an attractive alternative to amateur racing for the casual enthusiast or individual. Many street legal performance car owners will benefit from an opportunity to use the facility. The greatest amount of amateur racing is anticipated from street legal vehicles. The facilities are planned to be conveniently located near the Twin Cities metro market providing local residents with an enjoyable state of the art facility to enjoy and a safe environment. IMEDC principals believe with the increased interest in many types of alternative and multi entertainment concepts, including but not limited to combined music and car shows, the facilities have considerable potential in the Minneapolis - St. Paul metro market. Most of the tracks built throughout the U.S. except in the very recent years offer very little environmental engineering. The concept of environmental awareness is now commonly accepted and this facility is being designed as a model to follow. IMEDC expects to be within the Minnesota noise standards. A variance may be requested for a specific and significant event should noise modeling find that the event is likely to exceed the Minnesota noise standards but it is deemed that the event is significant to the community and the facility. IMEDC expects the professional events to be the loudest due to the close competition and the power of the vehicles competing. The Regional events are expected to have significantly less noise due to the type of competition and the vehicle power as well as the nature of the competition being less equal. Local events on a track of this scope will allow even less noise due to the track size, competition and type of vehicles. IMEDC management believes there is tremendous opportunity to develop a successful design and revenue model in a virtually untapped Twin Cities metro area market. 3989 Central Avenue N.E.; Suite 200B; Minneapolis, Minnesota 55421 • • •