Race Track in Gaffney SC?

Anyone heard of a road course(s) being built near Gaffney, SC? Can't imagine that a race track could attain bank financing in this market...

From the Gaffney Ledger on 3/17/10:

Council will OK race track builder’s request

By LARRY HILLIARD Ledger Staff Writer gaffneyledger.com

A Concord, N.C., motorsports development company will get its much-sought after noise ordinance exemption, according to sources close to the project.

Officials from the 2Driven company met for about 90 minutes in a closed-door session Monday with Cherokee County Council, attorneys for both sides and Cherokee County Development Board Director Jim Cook.

Although council returned and stated no action was taken, sources said council agreed to exempt the project from the county’s newlyenacted noise ordinance in return for the company’s pledge to complete the entire proposed $25 million project, which includes two worldclass road courses, a skid pad and training areas, motocross and ATV trails, cart trails, a drag strip and a nature park.

The motorsports development company failed to obtain the noise ordinance exemption in a meeting with council in February. Bill Conger, a co-owner of the motorsports development company, has said the exemption is needed to secure investors.

The project, known as Racers Paradise, will be built on a 1,700-acre site near Hwy. 105 and Lowry’s Road.

During the lengthy executive session, the company supplied data from its own sound tests that showed the noise level at the track wouldn’t exceed 105 decibels, the sources said.

The developers hope to attract three national events, including an AMA motorcycle race, a Daytona prototype race and an off-course road motorcycle race. Each event would draw 20,000 to 40,000 fans, according to the developers, who would pay for the $25 million facility by selling memberships to its “Drivers’ Club,” which would grant virtually unlimited access to every area of the facility.

If enough investors sign on, the developers, who have a 1-year option on the land, hope to begin the project — which could bring as many as 60 jobs to the county — some time next year.

2Driven officials are expected to return in April when council formally approves the noise ordinance exemption.

http://www.gaffneyledger.com/news/2010-03-17/Front_Page/Council_will_OK_race_track_builders_request.html

 

Sure looks like it...and we all know how that business model turned out.

Found another article that gives more details on the so-called "Racer's Paradise"

From the Gaffney Ledger on 1/18/10:

Proposed facility would be ‘Racers Paradise'

Matt Mullins and Bill Conger unveiled bold plans Thursday to put Cherokee County on the national racing map.

For Mullins and Conger, the name of their venture, Racers Paradise, says it all.

“It will be the dream place to go if you’re into motorsports,” Mullins said.

Racers Paradise will be built on a 1,700-acre site near Hwy. 105 and Lowry Road. It will feature two world-class road courses each more than 2.5 miles long, a skid pad and training area, motocross and ATV trails, cart trails, a drag strip and a nature park. Down the road, so to speak, the duo hopes the venture will be profitable enough to support trackside condos and a commercial business park, as well as a gas station and convenience store. There’s also room for a 1.5-mile test oval for NASCAR races.

Three national events are in the works, including an AMA motorcycle race, a Daytona prototype race and an off-road motorcycle race. Each event would draw between 20,000 and 40,000 fans.

They estimate it will cost $25 million to complete phase I of the project, which includes construction of the two tracks, training pad and parking lot.

The project would create 50 to 60 jobs and generate as much as $150 million for the local economy and as many as 200 jobs over the life of the project.

Conger said noise is the top concern about the project. But Conger said designers have “gone to great lengths to keep natural buffers to minimize the noise.” He also downplayed possible traffic congestion in the area.

Mullins, Conger and their investors would recoup their investment by selling memberships to the drivers club. A club membership could cost up to $4,500 a year but would grant members virtually unlimited access to Racers Paradise.

County residents also would be granted free access to some areas of the property.

Mullins and Conger held the last of their informational public meetings this past Thursday at Broad River Electric. The meeting was attended by about 30 people, including several Cherokee County Council members and Development Board Director Jim Cook.

Both Mullins and Conger have extensive racing backgrounds. Mullins drove on the NASCAR truck and ARCA series. Conger’s racing passion is motocross.

Mullins and Conger met with council in a closed-door session a few weeks ago. Council asked the pair to hold a meeting to gauge the public sentiment for the project.

At Thursday’s meeting, only one person expressed concern about the traffic.

http://www.gaffneyledger.com/news/2010-01-18/Front_Page/Proposed_facility_would_be_Racers_Paradise.html