So with the rally & large show of public support we had for Race City last fall, City council voted to re-negotiate the lease for another 5 years & we all thought we had won.
Not a chance.
The City came back with their offer for a lease, the old terms were about $3,000/month + the property taxes(over $100,000 year, I think it was $130,000 but I'm not 100% sure)
The new terms?
$90,000/month + taxes based on a greatly increased land value, probably close to $500,000 if not more.
So about $1.5 million a year from $150-180,000 last year.
Looks like Bronco is going to win & we racers will lose.
More details & info.
SE Calgary News