WHEREAS, the Village of Capitan, New Mexico desires to develop a feasibility study on the appropriateness of locating a 2,500 to 5,000 seat Equestrian Center in the Village of Capitan; and

WHEREAS, the proposed Equestrian Center would be designed to meet the local and regional needs of individuals involved in a broad range of equestrian activities; and

WHEREAS, the study is to include but is not limited to a market study, fiscal impact on the Village of Capitan, impact to the Village and area community facilities, services and infrastructure, potential to develop long-term event schedule for the facility, development of a schematic footprint to include parking for the proposed facility, cost estimate for site and facility development, cost projections for operation, revenue forecast, business development forecast and proposed lease/operation/management options.  The study will also investigate the potential for the facility to become a destination tourism site for Lincoln County and more specifically the fiscal and economic development impact such a finding will have on the Village of Capitan.

NOW THEREFORE BE IT RESOLVED BY THE GOVERNING BODY of the Village of Capitan to submit the Equestrian Center Feasibility Study Application to the New Mexico Rodeo Council for consideration for funding for the study.

DONE, PASSED, AND APPROVED this 12th day of June, 2007 by the Governing Body of the Village of Capitan, New Mexico.


                        ___________________________________
                        Sammy L. Hammons, Mayor
ATTEST:


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Kay Strickland, Village Clerk