Trinity Meadows Raceway, Inc., Jack M. Lenavitt, A Person Other Than The Tax Matters Person - Page 4

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          activities and incurred major expenses to develop the Property              
          for horse racing under the license.                                         
               Trinity retained the firm of F.P. Greenhaw, III, Inc.,                 
          Engineers & Planners, to prepare and submit studies of the                  
          Property in order to develop the plan that was required under the           
          applicable laws.  Trinity constructed a berm along a portion of             
          the Property to reclaim from the floodplain the area in which the           
          barns and grandstands were to be erected.  The land underneath              
          the barns and grandstands were removed from the floodplain, and             
          none of Trinity's racetrack was in a floodway.  Trinity made the            
          necessary land improvements to construct an oval track, parking             
          lots, bridges, ditches, banks, and other related items.                     
               In March 1991, Trinity retained a developer named Dennis               
          Moore to devise a plan to develop the track surface.  A racetrack           
          consists of three distinct and separate levels; namely, the sub-            
          base, the base, and the cushion.  The sub-base is the bottom                
          layer, and it consists of materials acquired from the underlying            
          excavation project.  The base is the middle layer, and it                   
          provides a concretelike foundation for the top layer (the                   
          cushion), which is a soft surface on which the horses race.  The            
          cushion consists of sand, silt, and clay, and these materials are           
          "fluffed up" daily.                                                         
               Trinity opened for business on May 29, 1991.  Shortly                  
          thereafter, it became evident that the track's cushion had too              





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