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Washington State Horse Park <br />Funding Assumptions <br />1 Washington State Funding (WSF) <br />2 WSF has been to fund major capital projects in two separateappropriations. <br />a)Design <br />b)Construction <br />3 WSF or private funds will be used for working capital <br />Project Book Planning Assumptions <br />1 Event calendar will be completed by September 30,2006 <br />2 Economic study will be completed by November 30,2006 <br />3 Economic study will be used to determine recommended design andconstructingcompletion. <br />4 Approval of Environmental Impact Statement will determine the startofconstruction. <br />5 Completion of the project will be when the revenue exceeds theoperatingcosts. <br />Observations <br />1 The maximum horse event days will be over a 30 week period of timewhichisbasedonweather <br />2 Earlier economic studies suggest a 5 year period before theprojectedrevenueexceedstheoperatingcosts. <br />Schedule <br />1 Revised Project Book Completed by December 15,2006 <br />2 WSF approved by January 2007 <br />3 Environmental Impact Slatement Engineering Contract awarded byMarch2007. <br />4 Site Planning Contract awarded by March 2007 <br />5 Design Contracts awarded by August 2007 <br />6 Site Planning completed by June 2007 <br />7 Environmental impact Statement completed by Feb 2008 <br />9 Site Development package completed by March 200810BidandAwardConstructionbyApril2008 <br />11 Construction completed by November 2008 <br />Capital Funding Packages <br />Amount YearDesign$1,800,000 2007Construction$18,300,000 2008Const/Weapital $500,000 2009WorkingCapital$300,000 2010WorkingCapital$200,000 2011WorkingCapital$100,000 2012 <br />Total $21,200,000