Belmont Park
This paper has already set out rationale for attending to Saratoga as a priority and then returning to Belmont Park. Notwithstanding this, there are four areas that need consideration as part of any plan: 1. Belmont backstretch – There is an argument that the priority for backstretch improvements is more significant at Belmont than at Saratoga as it is a year-around track rather than just a summer track. However, the counterpoint is that the barns are generally in better condition, have been subject to a more recent maintenance program, and any long-term redevelopment of Belmont could be radical. It could prove short-sighted to invest in the Belmont backstretch if track or other improvements are subsequently impacted. In the short term the Belmont barns are to be subject to maintenance only. This should be a focus in any Year 1 Plan. 2. Belmont backstretch housing – This is identified as a separate element that was mentioned earlier in the funding section. Since Belmont backstretch workers live more than nine months a year at Belmont, they can qualify for permanent residency and the types of programs that are available for low-income housing. NYRA has engaged 36
Capital Projects Development Strategy Potential Projects
the Long Island Housing Partnership (LIHP) which is a not-for-profit organization that specializes in low-income housing. LIHP has had a number of discussions with funders and state agencies to establish if it is possible to use access to very low funding costs or bonds to construct this type of facility with the cost met by the income from the building. This assumes that NYRA would start charging for housing on a Palm Meadows model which NYRA currently does not do. This is a slightly unusual project but LIHP thinks it is potentially deliverable – this should be studied carefully if it can augment overall NYRA funding. While LIHP indicates funding may be available, this would still be an unusual process for external assistance compared to the projects they usually consider. It may be preferable, therefore, to undertake an early Belmont backstretch housing building which could demonstrate the standard NYRA seeks. 3. Belmont Frontside – With a short term focus on Saratoga it will be necessary for NYRA to allocate money to undertake some works to the Belmont grandstand. Some