Horse hockey. Bollocks. Content suitable for putting on my flowers. Statement full of E. Coli.
Repaving certainly is less expensive than doing the job from bare ground. Summit Point repaved less than 10 years ago. VIR essentially was a ground zero operation. Carolina Motorsports Park from nothing to pavement within the same time frame. Track in Jersey being built. How many additonal tracks have been built in that time? Shoot. Summit Point built a
third track without extorting money from users.
A $5 million repaving job financed through a 8% loan over 15 years works calculates to annual debt payments of $584,138 per year. At 270 track days per year, that works out to an increase in daily rental fee of around $2,200 per day.
$5 million cost works out to over $3.2 million per mile to REPAVE and I really doubt the cost is any near that high.
From the city of Staunton VA website - "The cost to pave one lane for one mile is $86,000."
Multiple by 4 for 4 lanes and assume that racing asphalt is 5 times as expensive as the stuff put on city streets - you're at $2.125 million per mile paving. Total cost for 1.53 miles = $3.3 million
200 track days/year = about $3,000 increase in rental
270 track days/year = about $2,200 increase in rental
Bump the interest rate to 10% and you don't impact these number that much.
See above set of assumptions.
Hard to believe given what I have heard about rental rates there.
Me thinks that this is part of the SB Retirement Fund Plan.
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