Mark,
It is dependent on the rules of the various sports governing organization (NHSF,NCAA, USATF, IAAF, or recreation/fitness) for which the owners plan to use the track.
Plus, the NCAAA, USATF, & IAAF have other rules for tracks that include: lane width, inclination, radius, markings, and more. A track built to the IAAF specs will be accepted by all other governing organizations.
The IAAF Facilites Manual has all of the specifications you or anyone would ever need:
(this is a link to their regulations page. The online manual is in two parts because of it's size).
http://www.iaaf.org/competitio...gulations/index.html