No one reading this any longer?
I'm guessing we either need a wealthy benefactor, or 20 members to form the board of trustees. The trustees each come up with $1000 USD and sign the charter for this club. We then either decide to rent or buy. The preference would be to buy and retain a 15 year mortgage of $200,000 with 10% down. Yes, it sounds like a lot of money and a lot of responsibility. But, if the same 20 guys pay $1000 a year for racing up front, it's paid for in less than 10 years. If a trustee ever needs leave, they will be replaced legally. The club itself will be listed as a Non-profit and get the required liability insurance. I'm also going to post this on the Chicagoland Tracks Thread.