Wednesday, February 25, 2009

"World's Largest Motorsports Facility" Runs Out of Gas

The proposed Riverside Motorsports Park, a quarter-billion-dollar, eight-racetrack motorsports park that would include shopping areas, a lake, restaurants and picnic space, is running on empty.

A notice of default recorded last month shows RMP owes at least $13.4 million on the 1,200-acre property, located near Atwater, California. RMP's $12.5 million mortgage loan with First Bank in Missouri has matured, and the company has failed to pay it off, according to the notice.

The facility would have been built in the San Joaquin Valley of California, a region already suffering from dangerous air pollution levels.

Merced Sun-Star

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