024-12 Wyo. Code R. § 12-2

Current through April 27, 2019

Section 12-2 - Procedure

(a) The original Concessionaire must notify the Division no less than ninety (90) days prior to the proposed purchase/transfer of the contract. This will allow the Division time to assemble all the necessary information, notify the Commission and set up a meeting to review the proposed transfer. Upon review, the Division and Commission will make a recommendation to the Department Director, who will make the final decision in writing.

(b) The prospective new Concessionaire will be required to pay to the Division a non-refundable administrative fee at time of application to cover processing and administrative costs. The prospective new Concessionaire may be required, where applicable, to sign a document stating they have received the MOU, the Amendment to the MOU and the BuRec Concession Management Guidelines.

(c) The prospective new Concessionaire may be required to furnish the same information as requested in a RFP for a new facility. At a minimum, the party purchasing a concession will provide the following:

(i) Personal data of all principals,

(ii) Management background (Resume),

(iii) Personal tax returns of all principals for the previous three (3) years,

(iv) Personal financial statement of all principals, current (within ninety (90) days),

(v) Operations experience information of all principals,

(vi) Sales contract and/or purchase agreement,

(vii) Construction bid when applicable,

(viii) Current appraisal of the concession, at the expense of the buyer or seller,

(ix) Business references,

(x) Current Concessionaire's financial statements,

(xi) Projected income statements and cash flow statements,

(xii) Five (5) year Business Plan, if appropriate for the concession,

(xiii) Other information as requested by the Commission.

(d) If all of the above information is not received timely, the sale or transfer of the concession operation will be postponed until the Division has had time to review the information and make a decision.

(e) The Division reserves the right to contract outside consultation, with proper disclosure, for financial and technical review and recommendation.

(f) The Concessionaire will submit the proposal to the Division. The Division will review the proposal and make recommendations to the Commission.

(g) Following their review, the Commission will make a recommendation to the Department Director.

(h) The Department Director will make the final decision and all parties will be notified in writing. Should the request be denied for the purchase/transfer, the reasons will be detailed in written correspondence to all parties.

024-12 Wyo. Code R. § 12-2