[CPEO-MEF] Johnson County Commission schedules vote on Oz project

[hdqrs@worldnet.att.net]

Johnson County Commission schedules vote on Oz project

By GRACE HOBSON - The Kansas City Star
Date: 10/30/00 22:15

The Johnson County Commission -- the most significant hurdle facing the Oz
Entertainment Co.'s quest to win approval to build a $861 million theme
park resort near De Soto -- will vote on the proposed project next Monday. 

The commission spent more than five hours Monday reviewing the project,
including the first detailed look at the company's finances. 

Don Jarrett, the county's chief counsel, reviewed the financial numbers
with the help of an outside accountant. 
Jarrett said that Oz is a viable development-stage company, albeit one with
a cash-flow shortage. 

"Without future investment, it won't remain viable," he said. 

Jarrett said his review found no major discrepancies or apparent issues to
warrant an audit. 

The financial information revealed the company has current assets of less
than $1 million, most of it land the company owns in Wyandotte County and
prepaid expenses, Jarrett said. 

The company has total assets of $26 million, which includes money the
company has spent on developing the project. 

Continued....

http://www.kcstar.com/item/pages/home.pat,local/3774e0e4.a30,.html

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