Monday, May 24, 2010


So, I'm reading in the Albany Times Union about the $25 Million Gov. Paterson intends to loan the New York Racing Association. Without it the loss of racing in communities like Saratoga would be like a "Wall St Meltdown" in the Adirondacks.

The article states:
Paterson met with lawmakers Saturday to his talk about budget. I would expect that with the State in the mess it's in, they'd meet every day until they figured this out.

We have heard NYRA's announcement that it would have to close racing as soon as June 9 and lay off up to 1,400 employees because of cash flow problems. I know this sounds like a state size version of a corporate bailout, but...Paterson's proposal lays out a plan that not only insures the return of the people's money, but leaves the revenue stream in place years later.

The TU offered no glimmer of hope for the budget any time soon, but it does get to highlight some of the issues Dave has asked for in the past as sources of revenue. Like allowing mixed martial arts in New York, which could generate $30 million annually, but can't convince the Assembly to sign on to legalize the sport. It's legal in other states and broadcast on cable in New York, why not bring the revenues into the state?

I know some local Assembly members were voicing concern over the NYRA loan when the State parks were threatened closure, but if you read the news today, even that has become a non issue. You'll see in today's Record, Assemblyman Ron Canestrari expects his chamber will approve Paterson's latest proposal but they'll have to agree to cut $6 million from the Environmental Protection Fund. That's a tough pill to swallow, but they swear it should be temporary.

State Senator Sampson indicated that this could work. I would have to agree considering how much of an economic factor our parks play within our communities. Lets see where this ends up before the two houses merge an agreement on the two issues.

Our local representatives may have been uninformed of the continual talks at the Governor's Mansion when they spoke over the weekend. But we'll forgive them if this budget issue ever comes to a fruitful end.

1 comment:

Anonymous said...

Once again due to short sightedness they are going to kill the golden calf. What do you think is the real draw to Saratoga? It is racing and the park. A lot of money is dropped during the racing season from jetsetters to the common man. How could this happen??? Many years ago in the 60's Saratoga was becoming a dump from abandoned buildings and a low median income from citizens, no real jobs in the close vicinty. In comes MaryLou Whitney and Saratoga started coming back. A real resurrection to its glory years. They need to do what they can to keep racing alive in Saratoga.