Deal dead on possible track on Van Island

1. ## Deal dead on possible track on Van Island

The deal for this rec. park near Duncan - which had included plans for a paved road course for sports cars & bikes - has been officially killed:

http://www.cvorp.com/news/news40.htm

Another dream vaporizes... welcome to B.C....

2.

3. Shitty Deal That would have been a major draw for Islanders and Mainlanders alike!

4. Any race treack proposal for B.C. will face the same problem, i.e. the local area population is too small to draw from and motorsports interest is generally a fraction of the population. You need to be close enough to large metropolitan centres to be able to draw the kind of business needed to develop something as expensive as a track. Spokane is okay because they are a pre-existing facility, but if you were to try and develop Spokane today, it wouldn't fly.

6. A friend of mine has always said "Why don't we build our own track? We get a bunch of people to chip in, buy some land, pave a circuit, and there it is!"

Here is some quick and rough math: (feel free to modify those numbers if you have more knowledge)

2000 riders/drivers contributing \$1000.00 each in a shared ownership venture makes \$2,000,000.00.

Lets say that gives \$1,000,000 to buy some land and \$1,000,000 to pave a track on to it. (again, reeeaaaaly rough figures)

Each person who pays gets a discount to ride there. Those who didn't chip in pay full price. At the end of the year, any profits (after maintenance) can go to the owners.

Maybe some people can afford more money, and some less, so we make three different categories of owner, Bronze (\$500.00) Silver (\$1000.00) and Gold (\$2,000.00). The more you chip in, the more you get back in track time, discounts and profit sharing.

Also, if we have it set up where you could sell your piece of ownership at a later date, you might actually get a return on your original investment, if the finished track is worth more in value.

This is just a very rough draft, but if we put our collective heads together, we could actually do something.

7. I'm not trying to be a pessimist but I'd be surprised if 200 people actually coughed up a 1000\$ when it came time to commit!? I could also see major problems with decisions and management but the biggest problem would still be where do you put it (zoning and such) and how can you draw in enough business to sustain it?

Somebody just hurry up and win the lottery already!

just my

8. shitty end of the stick

9. Originally posted by Hu99
Any race treack proposal for B.C. will face the same problem, i.e. the local area population is too small to draw from and motorsports interest is generally a fraction of the population. You need to be close enough to large metropolitan centres to be able to draw the kind of business needed to develop something as expensive as a track. Spokane is okay because they are a pre-existing facility, but if you were to try and develop Spokane today, it wouldn't fly.
Yes, it's not always a matter of having the money to build a track, and I think B.C. is a prime example. I know a family who's lived in Coquitlam for years, and when Westwood was operating, they had grown up with it and just considered the race track noise (not that they considered it excessive, just audible). They'd be out in their yard on a weekend, hear cars or bikes and say, "Oh, there must be racing at Westwood today," and just accepted it as part of the deal of living where they did. Like you said with Spokane, it'd be interesting to see if Westwood would have got off the ground if started today, not in 1959.

There are people and companies in B.C. with enough money to buy land and build a track, but having them be willing to take the financial risk and endure the endless hurdles inherent in being permitted to acquire land for the purposes of such a project is another thing entirely.

10. i would think that it would be hard to sort that offer out legally. the more people you plan to include, the harder it will be to manage.

you're better off finding a rich guy to invest in something like this...

11. It would take time to put the whole thing together, but if you got people involved now, and put up a way for people to contribute a small amount monthly (like \$20.00) a couple years from now, that would be a sizeable amount of money sitting in a bank earning interest towards the project. If you want to quit and take back your money, fine, but the track gets to keep the interest.

As for decisions, the more you own, the more say you have. A Gold member would have the equivalent of four votes, a Silver member would have 2 votes, and Bronze would have one vote.

What you would need is someone with some legal know how, a Treasurer to manage the money, and a President who would oversee meetings etc, but the people who pay would be the ones calling the shots.

12. The only place in BC to put a track is OSOYOUS why you ask ?

#1 reason, to draw between Seattle and Spokane, (us BC ers aint got a pot to piss in,let alone have \$ to spend on track's ) so we would depend on the US to bring the riders up from the states......where the MONEY is.

#2 Osoyous is Canada's ONLY desert and if ya build in a desert IE Laguna,Thunderhill,sears point,las vegas you don't get frost heaves every spring and it cut's your up keep in half. Mission's ground never freezes so it don't get a lot of frost.....I know that part, but ya gotta be able to plan on going somewhere to ride that's not raining most of the time.

#3 Osoyous has the longest season of riding in Canada, I dont mean riding period, I mean riding where ya can keep some tire temp up.

#4 Osoyous have all the agragate you will need on the land you buy IE you don't want to buy a swamp for cheep and spend 1-2 million dollars trucking in drain rock,sand, crush all the stuff to build a track that aint gunna fall apart after 1-2 season's.

#5 Osoyous already has an established core to it, lake... check, nice place to stay..check....something to do while honey is at the track....check....not like Merritt.....".honey grab the kid's , were going racing in Merritt this weekend".......Uh fuck you I aint goin to no dust bowl of a town to watch over your kid's so you can go round and round on a track and leave me with sweet fuck all to do but count tumble weed's....check

there are a metric tone of other reasons why Merritt didn't go and it all boils down to the mighty \$ and as big as Vancouver may well be ,it aint big enough to support a track of any real structure......sorry but thats the truth, so we are gunna have to keep spending our \$ in the US till we can ace them at their own game, build a track just this side of the line , so the merican's dont think it's to far for them to go ,draw from 2 major centers, (Seattle & Spokane)and what would ya have ?

OSOYOUS Int Speed Park.

13. Originally posted by BF

OSOYOUS Int Speed Park.

*Homer Simpson*

14. Originally posted by ZoomaFoo
There are people and companies in B.C. with enough money to buy land and build a track, but having them be willing to take the financial risk and endure the endless hurdles inherent in being permitted to acquire land for the purposes of such a project is another thing entirely.
You're absolutely right!

A big business only has one motivating factor in mind - PROFIT.
You would have to prove to these corporate suits who know nothing about riding or racing, that this would make lots of profit for them to line their pockets with. And who would be calling the shots? They would.

How about this: The track is built BY the riders, FOR the riders, and if it doesn't make a "PROFIT", who cares! We will all have ear to ear grins that you can't put a price on.

15. oisp
im there

16. Originally posted by Prez
2000 riders/drivers contributing \$1000.00 each in a shared ownership venture makes \$2,000,000.00.

Not to rain on your parade, but in order to merely solicit such funds from the public at large legally, would eat up tens if not hundreds of thousands of dollars in legal fees. What you just described constitutes a distribution of securities under the Securities Act (British Columbia) for which you would be required to file a prospectus with the Securities Commission. A propectus generally costs upwards of \$100,000 to prepare. To distribute securities in contravention of the the Securities Act (British Columbia) is a serious offense.

Once you overcome this preliminary impediment, I anticipate that you would find it difficult to raise \$2M without a business plan that could demonstate profitability.

I have just described one of the preliminary legal impediments with such an endeavor. I could go on ad nausium about the impediments in acquiring land for the purpose of constructing and operating a racetrack -- suffice it to say that you had better have a very large legal budget. Kudos for your enthusiasm, but IMHO, it is not realistic.

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