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Washington State Ho~e Park <br />Funding AssumpUons <br />1 Washington State Funding (WSF) <br />2 WSF has been to fund major capital projects in two separate <br />appropriations. <br />a) Design <br />b) Construction <br />3 WSF or private funds will be used for working capital <br />Project Book Planning Assumptions <br />Observations <br />Schedule <br />1 Event calendar will be completed by September 30, 20()6 <br />2 Economic study will be completed by November 30, ~006 <br />3 Economic study will be used to detennlne recommended design and <br />constructing completion. <br />4 Approval of Environmental Impact Statement will determine the start <br />of construction. <br />5 Completion of the project will be when the revenue exceeds the <br />operating costs. <br />1 The maximum horse event days will be over a 30 week period of time <br />which I& based on weather <br />2 Eartler economic studies suggest a 5 year period before the <br />projected revenue exceeds ~eoperatlng costs. <br />1 Revised Project Book Completed by December 15, 2006 <br />2 WSF approved ~ January 2007 <br />3 Environmental Impact statement Engineering Contract awarded by <br />March 2001. <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 Marcil 2008 <br />10 Bid and Award Construction by April 2008 <br />11 Construction completed by November 2008 <br />Capital Funding Packages <br />Design <br />Construction <br />Const/Wcapital <br />Wor1<ing Capital <br />Wor1<ing Capital <br />Working Capital <br />Total <br />Amount <br />$1,800,000 <br />$18,300,000 <br />$500,000 <br />$300,000 <br />$200,000 <br />$100,000 <br />$21,200,000 <br />Year <br />2007 <br />2008 <br />2009 <br />2010 <br />2011 <br />2012