Code of Maryland Regulations
Title 09 - MARYLAND DEPARTMENT OF LABOR
Subtitle 10 - RACING COMMISSION
Chapter 09.10.06 - New Racetrack License
Section 09.10.06.32 - Budgets

Universal Citation: MD Code Reg 09.10.06.32

Current through Register Vol. 51, No. 19, September 20, 2024

A. The application documents shall describe the costs of construction or improvement of the racetrack facilities.

B. The disclosure required under §A of this regulation shall state whether each item is a fixed cost or a projection, and shall include the costs of:

(1) Architectural and engineering services;

(2) Land acquisition;

(3) Site development;

(4) Facility construction;

(5) Equipment acquisition;

(6) Capitalized interest;

(7) Loan placement fees and other guarantee fees;

(8) Any other financing costs relating to construction;

(9) Administrative services relating to construction;

(10) Legal services relating to construction; and

(11) Other areas relating to construction, providing details of any costs exceeding 5 percent of the total cost of construction.

C. The application documents shall describe the costs of operating the facility and the association before the first day of racing, including the costs of:

(1) Promotion and advertising;

(2) Application development;

(3) Application fees;

(4) Licensing fees;

(5) Management, administrative, and other salaries;

(6) Interest and other financing costs not related to construction; and

(7) Other areas relating to operations, providing details of any costs exceeding 5 percent of the total costs.

Disclaimer: These regulations may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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