It’s NOT a Done Deal
10/8/2010
As you may have heard today, the City is continuing to work with the Governor’s Office to acquire the Fairgrounds. Dating back to July 2009, the City has discussed this item in public at regularly scheduled Council meetings. The Council authorized the Mayor to send a letter to the Governor expressing its interest in acquiring the Fairgrounds. The Governor responded affirmatively and he indicated that he felt that the Fairgrounds should be in local control. Since that time the City has been working diligently to find a way to acquire the property without putting the City’s finances at risk. Key to the City’s plan is to keep this property in the public trust for the region and to preserve the Fair, Horse Racing, and the environment.
We are far from a done deal because first we have to reach final agreement with the Governor’s Office on the business points. Secondly, we have to seek approval from the State legislature and the Governor in order for them to sell the property to us. We would then have to complete our due diligence on the property, as in any real estate or business deal, to determine whether or not the City should proceed.
The Council will be soliciting public comment and everyone will have an opportunity to voice their support and/or concerns. We would like to hear from you.
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