"It's probably getting a little close on whether that's a reality or not," he said. "But we'll see."
Raceway owners Britt and
Britt said he thinks the loan will be in place late this month or in early September. Higher-than-expected construction costs have increased needed financing by 30 percent, said Britt, who said the total price of the project is about
"There has been an undeniable resurgence of work in the marketplace, and I suspect that has had some impact on our budget and subcontractor resources," he said in an email. He added that the bank they have been working with has been "terrific and fully engaged in the project."
Construction of the entertainment complex--which will include a banquet hall, a full bar, eating areas and offices--will take about eight months, depending on the weather, Britt said. The raceway initially filed for a building permit in April and expects to make its third and final submission to the county this week.
The complex had to be redesigned, but Britt says he thinks all of the issues have been resolved.
The raceway has also submitted an application to the county for an
He and his business partner in October closed on the raceway property, which is on the northeast corner of
The owners initially hoped to open the raceway this summer after the
Britt says he still hopes to finish the project in April but said that will be tough if the weather doesn't cooperate.
Workers have cleared the land and made progress on the drag strip and road course, he said. "We have slowed the project some on site to conserve dollars as there wasn't any need to spend lots of cash on non-critical activities until the building permit is obtained and the final loan proceeds were available," Britt said in an email.
"Everything is ready to run," Payne said. "We've just got to finish that finance gap, and we're there.
"I have all the confidence
On a positive note, Britt said, he has been talking to sponsors for the 2015 racing season and says he will have announcements soon. And he said many groups have already booked dates on the road course.
He said he receives questions every day about the status of the project, which he described as "complex and large."
"Each day it gets better, and there's no doubt Jerry and I will each age a few years because of it, but we see firsthand its tremendous potential and look forward to its spring completion," Britt said.
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