What is BeaveRun MotorSports ComPlex?
What type of activities will take place at BeaveRun?
When will BeaveRun be open for business?
Who owns BeaveRun?
Why was a limited partnership chosen to own BeaveRun?
How are you financing the development of BeaveRun?
Do you have financing in place?
Have you conducted any market analysis for operations at BeaveRun?
Do you have an appraisal of BeaveRun?
What is the BeaveRun Track Club?
Who is operating BeaveRun?
How do I contact BeaveRun?


What is BeaveRun MotorSports ComPlex?

BeaveRun is a motorsports complex designed especially for sports car racing, motorcycle racing, karting activities, autocrossing, product testing, and street and race driver training. In summary, it has been designed to provide a place for all types of motor vehicle experiences.It lies on almost 400 acres of land in Western Pennsylvania.

Our 1.53 mile road course opened in July of 2002, as did our 8/10 mile paved training/karting track, a 400 foot diameter skid pad and a vehicle dynamics testing area consisting of more than six acres of open pavement. Several Regional road racing events have already taken place at BeaveRun and many National- and Regional-Level events are scheduled for 2003. Timing and scoring and classroom facilities, restrooms and showers as well as an administration building and a clubhouse lounge with large screen TV are also in place.

A karting shop, support garages and other facilities are on the drawing board for construction at BeaveRun.
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What type of activities will take place at BeaveRun?

BeaveRun hosts many different activities in the area of motor vehicles. It hosts a variety of driver schools and racing schools. You will see a broad cross-section of racing, from top of the line amateur sports car races, to vintage car races, motorcycle races, karting races and competitive autocross races. Many clubs, such as the Sports Car Club of America, Porsche Club, the Mercedes Benz Club, the BMW Club, Viper Club, Camaro Club, Audi Club have staged events during the summer of 2002 and have reserved time in the summer of 2003. In addition, look for vintage cars from all over North America at BeaveRun in mid-July, as they tune up for the Pittsburgh Vintage Grand Prix. You will also see a great deal of race driver training as well as street driver training for both cars and motorcycles as well as karts. We will have an active teen driver program. Testing will be conducted for everything from street tires to new racecar designs.
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When will BeaveRun be open for business?

BeaveRun has been open for our first phase of business since July 2002. This first phase includes the north road course (1.53 miles), the training/karting track, the skid pad and the vehicle dynamics testing area. Buildings in the first phase include timing and scoring facilities, a classroom, restrooms and showers, and an administration building. We plan to have the second phase, consisting of the remaining road courses, the clubhouse, an additional timing scoring building and the clubhouse open in the summer of 2004.
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Who owns BeaveRun?

BeaveRun MotorSports ComPlex is owned by a Pennsylvania limited partnership, Speed4U, L.P. The general partner of Speed4U, L.P., is PMPark, Inc. Speed4U has been qualified to issue limited partnership interests through a private placement memorandum. Also, Speed4U has entered into a management agreement with PMPark for the management of BeaveRun.
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Why was a limited partnership chosen to own BeaveRun?

As note above, Speed4U, L.P., which is a limited partnership, owns BeaveRun. A limited partnership was chosen to own BeaveRun for two main reasons. One is because a limited partnership, unlike a corporation, is not a separate income tax paying entity. Thus, not only does Speed4U not pay income taxes, but also tax benefits that are often held in a corporation flow directly to the partners. In addition, limited partners have no personal liability associated with the operation of BeaveRun. Speed4U issues limited partnership units through a private placement memorandum. We chose to use a private placement for the issuance of limited partnership units because of ease of issuance, and since it is a “private” placement, there are no sales commissions. Thus, the investment goes directly to Speed4U to be used for development of BeaveRun.
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How are you financing the development of BeaveRun?

BeaveRun is financed in part with equity and in part with debt. We are financing the first phase with $4.4 Million in debt with the balance of the costs (over $1.6 Million) covered by equity contributed in part by the general partner, and in part by the limited partners. This ratio was chosen because it leverages the equity to maximize the return to the limited partners.
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Do you have financing in place?

Speed4U closed on construction and permanent financing through PenTrust Advisory Services, Inc., and the ERECT Fund in December 2001. A portion of the construction financing will be taken out by a SBA 504 loan arranged through the Regional Development Funding Corporation. The loans have a one-year construction period with a ten-year permanent term and a twenty-year amortization. The interest rate throughout the term is fixed at about 9%.
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Have you conducted any market analysis for operations at BeaveRun?

Yes, Frost Motorsports, L.L.C., completed a market analysis in October 2001 for the operation of Phase I alone. The analysis states in part that: This facility is expected to be open by mid 2002 and is positioned to be a source of pride for the entire Western Pennsylvania area, . . ..Many of the events scheduled for the facility will have regional and national significance, as well as strong corporate interest, which together, will provide a solid contribution to the area’s economic growth. The report also reflects a positive cash flow beginning in the first year of operations.
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Do you have an appraisal of BeaveRun?

Yes, an appraisal/market valuation analysis for Phase I, alone, was completed by Cambridge Partners & Associates as of September 20, 2001, in accordance with appraisal standards established by the American Society of Appraisers, the Appraisal Institute, and USPAP. The appraisal reports a “going concern” value and a real estate value more than the projected costs. It also indicates cash flows and net revenues very similar to that shown by Frost Motorsports, L.L.C. We are pleased with the results of these reports, which confirms the value of BeaveRun we had anticipated.
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What is the BeaveRun Track Club?

The BeaveRun Track Club is created to enable members to use the facilities at BeaveRun on a regular basis. Weekly track time will be allocated to members of the Club. In addition, exclusive weekend time will be available. Members will also have use of the clubhouse, will receive discounts on fees for services and the cost of merchandise. Finally, we plan to have friendly competition among members on the road course, the karting/training track and autocross events. Currently the membership is limited to the limited partners in Speed4U.
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Who is operating BeaveRun?

The founders of BeaveRun are Thomas C. Wettach and Timothy W. Silbaugh. They are the principal officers of PMPark, Inc., the sole general partner of Speed4U, L.P. Earl Seiler and Scot Silbaugh also have interests in PMPark, Inc. Alan Wilson, of Wilson Motorsports, is the BeaveRun designer and continuing safety consultant. Danny Yanda is the full-time General Manager and also an investor. Earl Seiler is construction manager and Scot Silbaugh is operations manager. George Patterson , our Marketing Manager, handles all marketing and advertising programs.
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How do I contact BeaveRun?

Voice: (724) 535-1000
Telefax (724) 535-0100

Mailing address:
201 Penndale Road
Wampum, PA 16157

You may e-mail us at:[email protected].


 
© 2001 BeaveRun Motorsports Complex