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of growth rates of: numbers and types of shows, entries, revenues, and costs. In <br />Scenario 3, which we believe will be the most likely scenario, the park operates at an <br />eighty thousand dollar per year loss, despite assuming augmented revenues of <br />$100,000 per year from non-equestrian events. Scenario 2, which assumes a much <br />higher and likely unrealistic rate of facility use, results in net revenues of approximately <br />one hundred fifty thousand dollars per year. The key financial findings of these two <br />scenarios a re: <br />• Maximum use of the faciflty is reached in the sixth year. Scenario 2 breaks <br />even in the sixth year. <br />• Accumulation of 1.4 million dollars in losses by the end of the tenth year in <br />Scenario 3. Scenario 2 accumulates one million dollars in losses prior to <br />break-even. <br />• Net revenues fosses of $74,726 when the facility reaches maturity in year six <br />for Scenario 3. Scenario 2 projects net revenues at maturity in year seven of <br />$140,802. <br />• For Scenario 3, annual revenues at maturity will' be $549,316 and annual <br />expenses will be $724,042. For Scenario 2 these values are respectively: <br />$915,527 and $774,725. <br />• 69,357 exhibitors and spectators will use the facllity annually when the facility is <br />at maturity. <br />• For either Scenario, it will be necessary to waive property taxes on the facility <br />and to create a capital funding approath which ~quires no direct repayment <br />from operating revenues. <br />49