One More Time
We have been hearing from people who are both happy and unhappy that the County has, at least for the time being, stopped subsidizing Idaho’s horse racing industry.
The County tried to work with Capitol Racing by allowing them to make their lease payments to the County on a month-to-month basis. Recently my colleagues and I also agreed to renegotiate the County’s contract with Capitol; however, the company never took us up on the offer, apparently realizing they could not make money in the horse racing business in this market even with a reduction in rent.
Capitol Racing was a good tenant. All lease payments due to the County for the time in which Capitol had control of the facility have been paid in full.
Nothing of value has been given to Capitol Racing for which the County has not been compensated. Ada County assets will not be taken by Capitol, despite rumors to the contrary. Equipment purchased by Capitol still belongs to Capitol and could be purchased by a new operator.
I would encourage anyone with an interest in the whole Les Bois Park issue to do their own due diligence. I would be happy to assist by providing a list of records from various agencies to be reviewed that will support everything I have previously written on this subject.
Like many people in Idaho, I believe strongly in personal responsibility. With that thought in mind, the horse owners might want to consider these suggestions:
• Research the track’s finances, by examining the Idaho Racing Commission’s 2008 Annual Report, if you haven’t already. The financial summary on page 15 shows that Les Bois Park reported a net operating loss of $1,279,849 last year.
• Put together a management group to submit a proposal for horse owners to operate the track. We are very open to entertaining such a proposal.
• Go to the Idaho Legislature to try to get the law changed so that fewer live racing days are mandated, in an effort to reduce the costs for a potential operator.
• Seek sponsors to offset the losses the track has been taking.
• Seek financial backers and make an offer to the County to purchase Les Bois Park outright.
Please feel free to contact me if you have questions or comments. Your input is appreciated.
posted by Sharon Ullman @ 5:27 PM
3 Comments:
The attempt to keep horse racing at Les Bois has been followed by nothing but disappointment over the past few months. I work for Flynn's Saddle Shop, a small local store that has been in business for over fifty years. It is impossible to explain to you the extent of the damage that will be caused by the absence of horse racing. Over the years we have tried to support the horsemen and in return they have been very loyal to us. Several of them maintain large barns (20-35 horses)and they come to the store for their feed and supplies, spending thousands of dollars every summer. On top of that, the farriers, owners, and grooms also come in. The last time the track was closed it was difficult, but that was when the economy was good. A lot of our customers have lost their jobs over the past few months, and now even more will. Some of the trainers have already given up and left. The smaller local trainers have not done anything with their horses because they didn't want to invest the money to get a horse ready to race if Les Bois did not run. It is already difficult for small businesses at this time. The money and employment opportunities that the track brings to the area would have been extremely helpful. What I don't understand is how does the track not running benefit the community and local businesses more than if it does? Is it worth it to take nothing over something? Will the damage really be worse with a less than ideal tenant than with none at all? I wish you luck in your negotiations and your attempt to find an ideal tenant, but do not have much faith that the necessary compromises will be made by the county for horse racing to continue in Boise.
I am interested in comparing the track with the baseball park. Both entertainment, both owned by the County. As I remember the baseball stadium is run by a private firm under a long-term lease from the County at a ridiculously low rate--not a good deal for taxpayers, but a great deal for the business. Have I got the facts right here? When can we renegotiate the baseball park lease or sell it? Are there differences in the two situations that I am not aware of?
Since when does an annual audit of the Green Group bingo become an "investigation" by the Idaho Lottery? You and your fellow commissioners should choose your words more carefully prior to making such comments. You should follow your campaign promise of full disclosure and let everyone know the real reason you rejected both proposals, YOU DON'T WANT HORSE RACING AT THE WESTERN IDAHO FAIRGROUNDS ANYMORE.
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