REQUEST FOR OFFERS Owner: MINGO COUNTY REDEVELOPMENT AUTHORITY Project: TWIN BRANCH MOTORSPORTS PROPERTY LOCATED IN HARDEE DISTRICT, MINGO COUNTY ADDRESS: TWIN BRANCH ROAD, WEST VIRGINIA Description of Project Pursuant to and in accordance with Mingo County, West Virginia’s economic development objectives, the Mingo County Redevelopment Authority (“MCRA”), a public body and lawfully created redevelopment authority under W. Va. Code Section 16-18-1, et seq., acquired that certain real property, more particularly described as follows: (a) Surface parcel of land containing 55.61 acres, together with improvements located thereon, situated on or near Little Twin Branch, Hardee District, Mingo County, together with the improvements thereupon, including an 11/3th mile concrete drag strip, an asphalt shut down area, a fully paved return lane, and a set of spectator bleachers, and being the same property conveyed to the MCRA by Deed of Conveyance dated June 16, 2015, from the Mingo County Commission, recorded in Deed Book 463 at Page 446; (b) surface parcels of land containing 7.51 acres, together with improvements located thereon, situated on or near Little Twin Branch, Hardee District, Mingo County, and being the same property conveyed to the MCRA by Deed of Conveyance dated June 16, 2015, from the Mingo County Commission, recorded in Deed Book 463 at Page 442; (c) surface parcel of land containing 74.1748 acres, situated near Little Twin Branch, Hardee District, Mingo County, and being the same property conveyed to the MCRA by Deed dated April 30, 2019, from Lexington Coal Company, LLC, recorded in Deed Book 489 at Page 119; and (d) surface parcel of land containing 99.4160 acres, together with improvements located thereon, situated on or near Little Twin Branch, and being the same property conveyed to the MCRA by Quitclaim Deed dated June 15, 2022, from Volusia Ventures, LLC, recorded in Deed Book 506 at Page 56. Collectively the aforementioned surface parcels shall be referred to as the “Twin Branch Property”. Pursuant to West Virginia Code Section 16-18-7, the MCRA has determined that the Twin Branch Motorsports Property is in need of further development, redevelopment, and operation, and that it is in the best interest of the MCRA to sell the Twin Branch Motorsports Property. Therefore, the MCRA is seeking proposals ids from buyers edevelopers who wish to purchase the Twin Branch Motorsports Property. The proposed sale of the Twin Branch Motorsports Property is intended to facilitate the development and redevelopment of the property for recreational, commercial, and r public use and should focus on the operation and development of the Twin Branch drag strip. The proposal must be in accordance with the MCRA’s development initiatives to create jobs and economic opportunity and shall be subject to such terms, covenants, conditions, and restrictions as the MCRA may deem, in its sole discretion, to be in the public interest or necessary to carry out the purposes of the MCRA and West Virginia Code Section 16-18-1, et seq. The MCRA may accept an offer and redevelopment proposal as it deems to be in the public interest and in accordance the West Virginia Code Section 16-18-1, et seq. All offers are subject to the approval of the Board of Directors of the MCRA, in their sole discretion, and any and all offers may be rejected. The MCRA may negotiate with any buyer edeveloper for the purchase of the Twin Branch Motorsports Property. The successful bidder(s), if any, will be notified by telephone and correspondence. All other bidders will be notified in writing. All offers shall be subject to the buyer edeveloper entering into a written contract with the MCRA that shall include terms, covenants, easements, rights-of-way, and other conditions as the MCRA may deem to be in the public interest or necessary to carry out the purposes of the MCRA and West Virginia Code Section 16-18-1, et seq. Requirements For Proposals All proposals must be in writing and should describe in detail the proposed redevelopment which will be completed by the buyer edeveloper. The proposals must include the purchase agreement terms, such as purchase price and suggested closing date, together with a pro-forma financial plan that includes proposed capital improvements to the Twin Branch Property, a time frame for the completion of the improvement and redevelopment projects, and a description of the economic impact to be created by the development edevelopment projects. The offers should include a statement of qualifications and experience of the buyer edeveloper, and a statement of buyer edeveloper’s financial ability to conclude the purchase. The offers must include satisfactory evidence of funds if the offer is a cash offer, and evidence of financing if the offer is subject to financing. Further information concerning the Twin Branch Motorsports Property shall be available for review by proposed buyers edevelopers at the offices of MCRA, upon written request. Factors To Be Considered Other than the proposed purchase price of the land and the proposal requirements listed above, factors that shall be given higher consideration by the MCRA in accepting an offer include the proposed development of the Twin Branch drag strip, the buyer-eveloper’s related experience and qualifications of owning and r operating a racing facility, and the proposed economic impact to be created by the buyer edeveloper’s operation of the Twin Branch drag strip. Price There shall be no minimum bid for the proposed purchase of the Twin Branch Motorsports Property, but the MCRA, when accepting an offer, shall determine the fair value of an offer by taking into account and giving consideration to the uses and purposes intended by the buyer-eveloper and how those align with the MCRA’s economic development initiatives; any restrictions upon, and conditions and obligations assumed by the buyer edeveloper of the property; the objectives of the MCRA for the prevention of the recurrence of slum or blighted areas; and such other matters as the MCRA shall determine as being appropriate. Due Date All sealed proposals must be received in writing no later than 4:30 p.m., June 24, 2024. Proposals should be sent to: Leasha Johnson Executive Director Mingo County Redevelopment Authority P. O. Box 298 Williamson, West Virginia 25661 Phone: (304) 235-0042 LC-174494 05-31 6-14;2024