Belmont Park is adding a synthetic track for 2024 meet

[Bustin Stones]

I'm always in favor of construction projects that can obtain financing from private sector. There's an ocean of cash at the pension funds looking to loan funds at market rates. Those rates are scaled based on the risk of default and the presence of reasonable collateral to back up the loan.
Any project bypassing private financing either is getting a better rate from taxpayers (read subsidy) or cannot back up their loan with sufficient collateral. These rules are immutable and the reason people or institutions with money continue to have money to loan.

[the little guy]

Originally Posted by Bustin Stones

I'm always in favor of construction projects that can obtain financing from private sector. There's an ocean of cash at the pension funds looking to loan funds at market rates. Those rates are scaled based on the risk of default and the presence of reasonable collateral to back up the loan.
Any project bypassing private financing either is getting a better rate from taxpayers (read subsidy) or cannot back up their loan with sufficient collateral. These rules are immutable and the reason people or institutions with money continue to have money to loan.

I'm curious, who do you think owns the property at Belmont and will own the new structure? It's a simple question.

[Dave Schwartz]

Originally Posted by the little guy

It's for off the turf races ( to preserve field size ) and to be used along with dirt in the Winter only.

Andy,

Was that in the article?
I missed it.

[Bustin Stones]

The taxpayers own the property.

[Andy Asaro]

Originally Posted by Dave Schwartz

Andy,

Was that in the article?
I missed it.

That's what they tell the people who work there to help sell it to the public. No doubt it will be used more often than stated as time goes by.

Just another place I won't be able to gamble on.

[the little guy]

Originally Posted by Bustin Stones

The taxpayers own the property.

No. The State owns it.

[the little guy]

Originally Posted by Andy Asaro

That's what they tell the people who work there to help sell it to the public. No doubt it will be used more often than stated as time goes by.

Just another place I won't be able to gamble on.

As always, Andy, you know best...even from 3000 miles away. It's a gift.

[Andy Asaro]

Originally Posted by the little guy

As always, Andy, you know best...even from 3000 miles away. It's a gift.

Take a step back and look at your own personal weak way of arguing. Just pathetic. I've been around long enough to know how it goes. If you want to tow the company line then shill on

[the little guy]

Originally Posted by Dave Schwartz

Andy,

Was that in the article?
I missed it.

I read some of them yesterday, Dave, and don't recall. You could go back and check.

You're free to believe, or not, what I post.

[Bustin Stones]

So, I got pissed when the Guardians traded my favorite first baseman. I went to the ballpark and confronted the beer vendor about this.
He told me that even though he derives income from the games, he isn't in on the meetings at the front office and shouldn't be expected to have a strong opinion about anything the team does with personnel.
So, I agreed and confronted the usher. He kicked me out.

[Inner Dirt]

Synthetic tracks and I never got along.

[kyle r]

Originally Posted by the little guy

No. The State owns it.

This is correct. All within the State. Nothing without. Not even the bodies that enter.

[Sheffwed]

Originally Posted by Bustin Stones

I'm always in favor of construction projects that can obtain financing from private sector. There's an ocean of cash at the pension funds looking to loan funds at market rates. Those rates are scaled based on the risk of default and the presence of reasonable collateral to back up the loan.
Any project bypassing private financing either is getting a better rate from taxpayers (read subsidy) or cannot back up their loan with sufficient collateral. These rules are immutable and the reason people or institutions with money continue to have money to loan.

Most pension funds don't invest in these sorts of things - they often have shortfalls (US cities and states such as NJ, CT, Ky etc)

They also have high annual return targets, not the source for these funds

[VeryOldMan]

Originally Posted by kyle r

This is correct. All within the State. Nothing without. Not even the bodies that enter.

LOL. Mussolini approved message!

Back to the underlying issue, though - I'm having a hard time seeing what the problem is with Belmont adding a synthetic inner track. Aqueduct sits on incredibly valuable land and Belmont is a mere handful of miles away. Doesn't it make sense for NYRA to consolidate at a single Long Island track which can offer a variety of surfaces and also have a boutique meet at Saratoga? What am I missing?

[PaceAdvantage]

Originally Posted by VeryOldMan

What am I missing?

Overarching hatred for everything NYRA & TLG?