Disclosure of Development Process

PURPOSE: This rule sets forth the required disclosure of the development process for a Class D license. (1) An applicant for a Class D license must disclose with regard to the development of its racing facility— (A) The total cost of facility construction or any modifications of an existing facility, distinguishing between fixed costs and projections; (B) Separate identification of the following costs, if applicable, distinguishing between fixed costs and projections: 1. Facility design; 2. Land acquisition; 3. Site preparation; 4. Improvements and equipment separately identifying the costs of the items required in 12 CSR 50-13.050(D)—(O) and other categories of improvements and equipment; 5. Interim financing; 6. Permanent financing; and 7. Organization, administrative, accounting and legal; (C) Documentation of fixed costs; (D) The schedule for construction, if any, of the facility or any modifications to an existing facility including estimated completion date; (E) Schematic drawings; (F) Copies of any contracts with and performance bonds for each of the following: 1. Architect or other design professional; 2. Project engineer; 3. Construction engineer; 4. Contractors and subcontractors; and 5. The equipment procurement personnel; and (G) Evidence of acquisition or lease of the site by the applicant. If the site is not owned or currently leased by the applicant, the applicant must disclose the plans for the acquisition or lease or other use of the site. AUTHORITY: sections 313.580.1 and 313.580.2, RSMo 1986.* This rule originally filed as 12 CSR 50-13.060. Emergency rule filed June 5, 1986, effective June 15, 1986, expired Oct. 13, 1986. Original rule filed June 12, 1986, effective Oct. 27, 1986. Moved to 11 CSR 45-53.060, effective Aug. 28, 1995. *Original authority: 313.580, RSMo 1986.