06-16-97 WSECONOMIC IMPACT
Below is a summary of the economic impact a facility or event can have on its surrounding
community. The number stated is the direct total expenditures in the community. This number is
typically factored by a multiplier of 2.0 to 4.0 to account for the number of times the money might
change hands. I have also attached information specific to the Portland and Phoenix facilities.
Additional information will be forwarded as we receive it.
Cleveland IndyCar Event, Cleveland, OH $19,500,000
Temporary circuit, one event
Detroit IndyCar Event, Detroit, MI $39,000,000
Temporary circuit, one event
Portland IndyCar Event, Portland, OR $12,654,402
Temporary circuit, one event
Sears Point Raceway, Sonoma County, CA $60,000,000
Permanent facility, four major events
Phoenix International Raceway, Phoenix, AZ $79,781,898
Permanent facility, five major events
Milwaukee Mile, Milwaukee, WI $16,000,000
Permanent facility, three major events
Elkhart Lake, Elkhart Lake, WI $26,000,000
Permanent facility, six major events
Toronto IndyCar Event, Toronto, Ontario $19,000,000
Temporary circuit, one event
Topeka Raceway Park, Topeka, KS $19,000,000
Permanent facility, hvo major events
Long Beach Grand Prix, Long Beach, CA $35,000,000
Temporary circuit, one event
Darlington Raceway, Darlington, SC $50,000,000
Permanent facility, trivo major events
New Hampshire International Speedway, Loudon, NH $68,285,000 (1991)
Permanent facility, No major events
Atlanta Motor Speedway, Atlanta, GA $65,000,000
Permanent facility, hvo major events
Dover Downs, Dover, DE $38,000,000
Permanent facility, hvo major events
The information stated is from studies done during the past two years.
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The following are the financials for:
Raymond F. O'Sullivan
1401 North Potter Drive, Suite 201
Colorado Springs, Colorado 80909
(719) 596-2374
Raymond F O'Sullivan
1401 North Potter Drive, Suite 201
Colorado Springs, CO 80909
(719) 596-2536 FAX
(719) 596-2374
Age: 40
Marred, 2 Children
Experience
1981-1985 Vice -President of Shera Construction, Inc., a construction and
development firm based in Sacramento, California. In charge of land acquisition,
development approvals, permits, financing and management of single family and multi-
family projects. During my employment, the company built and sold approximately 1100
units.
1985 -Present President/Owner of Realty Development Services, which acquires,
develops and renovates residential and commercial projects. Relocated to Colorado
Springs in 1991 to take advantage of rebound in current market.
CURRENT PROJECTS:
1. C'reekside Estates - Acquired November 1993, developing 216 single family lots on
80 acres in north eastern Colorado Springs.
2. Rustic Hills Office Park - Acquired November 1993, remodeling and leasing 33,000
square feet of office space in eastern Colorado Springs.
3. Newport Tech - Acquired December 1991, reselling 230 acres of industrial land in
eastern Colorado.
4. Villages at Sand Creek - Acquired May 1994, developing 550 single family lots on
141 acres in eastern Colorado Springs.
5. Chestnut Glen - Acquired May 1994, developing 36 Townhome lots and building 36
Patio homes.
6. Nav Press - 10 acres PIP in Briargate, Colorado Springs.
7. Doctor's Hospital - 22,159 square foot medical office building, 2504 East Pikes Peak
Avenue, Colorado Springs.
8. Astrozon Plaza Shopping Center - 36,820 square foot shopping center on Astrozon
Boulevard, Colorado Springs.
9. Monument Street Development - 15 SFR, 28 townhome lots, and 2 office buildings,
Colorado Springs.
10. Pikes Peak International Raceway - Fountain, Colorado.
PAST PROJECTS:
1. 1100 acres in Park City, Utah.
2. 112 unit apartment building - Tanglewood Apartments at Academy Boulevard and
Halfturn Road, Colorado Springs. Acquired rehab and sold.
3. 148 unit apartment building - Timberlane Apartments at East Bijou, Colorado Springs.
Acquired rehab and sold.
4. 305 unit apartment building - Wildridge at Lake Avenue, Colorado Springs. Acquired
rehab and sold.
5. 36 unit apartment building - Woodbine Apartments at 2020 East Bijou, Colorado
Springs. Acquired rehab and sold.
PAST PROJECTS
3 Acres in Roseville, California $500,000.00
Created single family lots and renovated existing home.
3 Acres in Folsom, California 325,000.00
Split lot and renovated existing home.
14 Acres in Roseville, California 1,750,000.00
Re. oned and mapped 80 single family lots.
5 Acres in Fair Oaks, California 800,000.00
Created single family lots.
36 Apartment units in Sacramento Park, California 1,620,000.00
Purchased land, designed and developed apartment project.
72 Apartment units in Cameron Park, California 3,500,000.00
Purchased land, designed and developed apartment project.
28 Apartment units in Folsom, California 1,350,000.00
Purchased land, designed and developed apartment project.
71 Townhome units in Folsom, California 4,620,000.00
Acquired permits and entitlements.
141 Apartment units in North Highlands, California 5,100,000.00
Acquired permits and developed apartment project.
40 Half-plex units in Folsom, California 70,000.00
Purchased land, designed and developed apartment project.
14 Half-plex units in Carmichael, California 1,656,000.00
Purchased land, designed and developed apartment project.
36 Apartment units in Rio Linda, California 1,700,000.00
Purchased land, designed and developed apartment project.
State Bank & Trust
111 South Tejon Street
Colorado Springs, CO 80903
Craig Engleage
(719) 577-9100
Western National Bank
102 N. Cascade Avenue
Colorado Springs, CO 80903
Jack Hood
(719) 381-5611
Colorado National Bank
1415 N. Academy Blvd.
Colorado Springs, CO 80909
Denise Thanner
(719)475-6264
First National Bank of Kansas
101 S. Main, Drawer A
Medicine Lodge, KS 67104
Amos Lawrence
(316) 886-5686