Members & Friends of Club Motorsports:

Club Motorsports hopes that everyone enjoyed a wonderful July 4th weekend.   Over the holiday weekend, I had the pleasure of participating in the Tamworth 4th of July parade and it was wonderful to meet so many folks who support our project.  In addition, I have spent more time in Tamworth meeting with several area business leaders and it is refreshing to discuss the issues and challenges we all face.  It has been a pleasure to meet a few of the local business owners and I look forward to having CMI play a more active role in the business community.   As always, we would like to express our thanks to all our local friends and supporters and of course, our members and who so strongly and passionately believe in our project.   Please let me provide you a brief recap of our plans and our path towards the start of construction.

The critical path we face for the rest of the summer months is the successful resolution of the local wetland permit.  As part of the lawsuit brought by Focus Tamworth, we asked a State Superior Court judge to look at a number of issues and make a determination of which apply to our project and which do not.   For example, prior to the start of our development, the local Tamworth Wetlands Ordinance was not strictly enforced or applied to projects that impacted wetlands.  We felt the opposition was attempting to selectively apply the local permit.  Given the way this ordinance was written, and the specifics of our project, deciding how it applies to us is complicated.   Unfortunately, the lower judge did not agree with our position and we have filed for an appeal to the State’s Supreme Court. 

The Supreme Court agreed to hear our appeal; however, from a legal proceedings standpoint we think it makes sense to first apply for the local wetlands permit, and so  just recently we asked the Court to stay or “temporarily hold” their decision on the Supreme Court case until after we filed an application for the local permit.  We are waiting for the Court’s decision on the stay.  We were disappointed that the opposition group, Focus Tamworth, decided not to agree to the stay even though we were applying for a permit.  We were forced to approach the Court without their agreement.  In our opinion, Focus Tamworth’s opposition to the stay and lack of cooperation continues to show their true position on our project.

On June 28th, we attended the Tamworth Planning Board regular meeting and outlined our desire to file an application and discussed an estimated timeline.  We have been working on our application and we plan on filing an application under the Tamworth Wetlands Ordinance in the next 30 days.  By submitting an application to the Planning Board, our goal is to work in cooperation with the Town and its respective Boards.  We understand this process could become contentious but we hope that both opponents and proponents will respect each others views and act in a civil and courteous manner.

Certainly, a question that I receive from local area business people and various supporters is when will construction start?  On a very practical front, we would certainly like to have a stronger and better presence in Tamworth.  With that in mind, we continue to explore the option of opening a sales and marketing office on site.   In terms of the start of heavy earthwork, once we resolve the local permit we can begin major construction.   There are additional permits that we will need to secure.  However, these permits are more standard or routine construction permits or certificates that we will apply for and secure as we near the start of construction. 

The company is well positioned for continued growth and we have the support of the Board of Directors, as well as a very strong group of lead investors.  Club Motorsports continues to receive great national and local press.   We remain extremely optimistic about concluding the permitting process and beginning construction in 2006. I would like to stress again our dedication to building Valley Motorsports Park.  We will create a world-class resort facility that everyone will be proud of and our members will thoroughly enjoy!  Everyone here at Club Motorsports is grateful for our many friends, local supporters, and most importantly, our members.  We ask everyone for their continued support of Club Motorsports.    
 
We hope everyone is enjoying a wonderful summer.

Lloyd Dahmen
President
Club Motorsports