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Miracle Mile Mall Complex

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KY Hwy-80 Mile Marker 38-39 Somerset, KY 42501

$5,000,000 Investor Funding Offering

A 50% ownership in the Miracle Mile Complex will be provided to Investors/s, once a $5-million Line of Credit is established as good faith, while negotiations with the Kentucky State agencies and Governor to reach an agree to provide this project with necessary utility hookups, Interstate Standard traffic lanes on KY Hwy 80, all within the vicinity of the Miracle Mile Complex. (In the event State negotiations fail to materialize, the escrow funds are fully returned to Investor/s without risk). The escrow account is a provision to assure the completion of the project for both the Investor/s and Kentucky Agencies that funding for completion of project is in place and avoid failure due to lack of funding.

Property Description: The Del Spinas are owner of a 428-acre parcel on KY Hwy-80. Their division, Lake Cumberland Resort recently completed a $50,000,000 prestigious gated waterfront community. (www.LakeCumberlandResort.Com)

Phase I of this Offering, is a 300-acre parcel with 2,000 ft. of highway frontage, extending east and west on KY Highway 80 and located 12 miles East to Interstate I-75 and 19 miles west to Route 27. (A portion of Hwy 80 has become already Interstate I-66 recently).

Purpose of Funding: Miracle Mile Complex requires Investor funding for the completion of the infrastructure and amenities within the 300-acres. The front 100-acres will contain the 1,000,000 sq. ft. commercial–retail space). The balance of 200-acres adjacent to the complex will encompass a multitude of recreational amenities planned to entice the public to visit, dine, shop and play till their hearts content. Onsite Horse Stables and trails through the adjacent 3,000 acres of the Daniel Boone National Forest while visiting the Historical Whitaker Cemetery. Nature Trails, White-Water Rafting and canoeing on the famous Rockcastle Wild River Streams, Zip Lines, and Chair Lifts from our observation tower overlooking our Complex. (The Lake Cumberland region is visited by 4.75 million tourists annually and considered the 4th largest location for visitor hours) The magnitude of this Complex could generate 2000-3000 jobs within the 600,000 local populations living within an hour’s drive.

Lexington, Knoxville, Louisville and cities throughout Ohio can easily reach our complex via exit 29 off I-75 only 12-miles away. (Only a regional complex of this magnitude could ever attract major retailers such as Home Depot, Target, Sam or Costco, Cabala – Pro Bass Shop or most national chain restaurants and retailers)

Investor Assurance: Once the State contractual agreement has been finalized, Investor Line of Credit will be converted to an Investor Cash Distribution made payable to Miracle Mile Escrow Bank Account and controlled only by an independent CPA accounting firm that co-signs all distribution of funds attested by accounting firm. This will assure both Investors and State of a successful construction completion. Any excess proceeds remaining upon completion of project will be divided equally between Investors.

Upon site completion, an independent commercial appraisal will be conducted to determine current prevailing last sales on recorded transactions to establish our selling prices. at establish current value based on comparable last sales in area.

Investor Downside Risk Begins If Commercial Acreage sells Below $100,000/acre.

Miracle Mile Mall Complex Offering Brief Synopsis of Investment

  • Investor receives 50% equity interest in 300-acre parcel which is ready for completion of infrastructure for investment cost of $5,000,000.

  • The contribution is not required until the State provides an ironclad agreement to our terms This requires providing Sewer and water lines to the frontages of our 300-acre parcel. (Estimated cost $3,000,000).

  • State is also required to provide runway lanes off Hwy 80 into our project, an overpass bridge to provide entrance into our project from either direction. The state’s plan for Hwy 80 is to provide Interstate standards in the foreseeable future. Our modifications would have to be performed in future or now and by doing so now the State would generate tremendous tax ratable in a much shorter time period.

  • The Investor will be required to provide a $5-mil good faith line of credit for the sole purpose of assuring State that the cost of infrastructure of the 300-acres is funded before agreement signed. Once fund are required, they will only be released by an independent accounting firm to avoid deve;p[er commingling of funds. (Every sub- contractor will be elated to bid knowing payment would be made on timely basis).

  • Investor’s $5,000,000 line of credit is canceled and funded to investor without risk, if State funding is not obtained to perform their obligation.

  • What are Investor downside risk? Once state obligations are filled and our infrastructure is completed, the value of Miracle Mile will change from farmland to a commercial site complete with all utilities, highway inprovement complete the This 300-arce parcel ready for is the only available tract to provide this tourist attraction. (Statement documented in independent economic impact study as prepared by QK4 engineering and Colson Research. No future competition.

  • Upside Potential: Investors net cost of $10-million for completion of infrastructure, (300 acre development cost $30,000 per acre)

  • Potential upside market value, once completion of infrastructure. Figure must be based on current market and past last sales of comparables properties. This can range from $25-mil to $100-mill depending on statistics used.

Contact Del Spina Enterprises LLC

Anthony Del Spina, Developer
500 Roberts Bend Rd Burnside, KY 42519
Cell 606-219-9283   Office 606-561-5611