2. PCSR 04-24-2007 - Laserfiche WebLink

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Executive Summary Michael Draeger, the Founder of BELOW32, Inc. recognized a phenomenally strong and growing trend appearing on Alpine Ski slopes internationally: Snowboarding. He also recognized the unique challenges of accommodating both Alpine Skiing and Snowboarding on the same site. His study and reflection on this challenging opportunity lead him to conceive of a design and an operating strategy for an indoor facility which could effectively and profitably accommodate the needs of both sports. The current project (as discussed below) is an explanation of and expansion on those original ideas. BELOW32, Inc. was formed to design, build and operate ayear-round, indoor skiing, snowboarding, skate-boarding and climbing facility that will also provide a unique food and retail experience to young people, their families and friends. Building of the initial facility will be supported by state-of-the-art snowmaking technology and related facility management systems. It should be noted that early attempts to implement the concept of indoor snow-related recreation proved difficult to make profitable. Today, due to new marketing opportunities, advances in snow making technology and the more favorable installation and operations costs, it seems highly probable that a new operation, strategically placed in a high traffic area and operated by experienced management will quickly become a very profitable business. BELOW32, Inc. has identified just such an opportunity and is proceeding to secure the funding to launch a facility in the Minneapolis/St. Paul area and the Las Vegas area of Nevada. Construction cost for the facility is estimated at $30 million and will take approximately 18 months to complete. The facility will provide: Skiing/Snowboarding: Approximately 4-5 acres of snow surface consisting of a competition half pipe, multiple spines, tabletops and quarter pipes. Slope will be serviced by a chairlift for uphill transportation and real snow will be produced and maintained utilizing proven, existing technology. The slope will be evaluated and reconfigured on a regular basis to maintain the highest level of safety, excitement and participation. Skateboard/Inline Skate Park: Approximately 40,00 consisting of multiple ramps, quarter pipes, rail slides Park will be evaluated and reconfigured on a regular highest level of safety, excitement and participation. 0 sq. ft. of Skate Park and ahalf-pipe. The basis to maintain the CONFIDENTIAL - BELOW32, Inc.