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Four scenarios of the model were developed and "run." They differed as to <br />assumptions of the following initial values and growth rates: numbers and types of <br />shows, entries, revenues, and costs. Scenario 3, the "most likely" scenario, proved to <br />be financially feasible, as did the "optimistic" Scenario 4. Scenario 3 projected: <br />,0 Attainment of break-even at the and of the fifth year of operations. <br />4 Accumulation of $715,372 in losses by the end of the fifth year. <br />0 Net revenues of $189,732 when the facility reached maturity in year six. <br />0 At maturity annual revenues to be $858,307 and annual expenses to be <br />$658,575. <br />C A total of 25,600 horses to be entered In shows annually when the facility is at <br />maturity. <br />4 89,600 exhibitors and spectators to use the facility annually when the facility is at <br />maturity. <br />0 It would be necessary to create a capital funding approach which does not <br />require direct repayment from operating revenues, because the facility will not be <br />able to afford delft service. <br />An impact model based upon expenditures of the -horse park parWpants and <br />expenditures for horse park operations was developed to estimate financial flows to <br />both the local and state economies and to local and state finances. Using the "most <br />likely" scenario at year six maturity, the following impacts were projected: <br />16 <br />