Belmont: Request For Development Proposals Approved By New York Franchise Oversight Board

An official request for proposals is expected to be issued in the coming days, but the New York Franchise Oversight Board has given its approval to release the RFP for development of up to 43 acres of Belmont Park, according to bloodhorse.com. Specifically, the areas in question include a 28-acre overflow parking lot and an eight-acre site southwest of the grandstand. The latter area could grow in size, up to 15 acres, depending on the proposal.

The state is allowed to develop the land at Belmont due to the 2008 New York Racing Association franchise agreement: NYRA has the exclusive rights to operate Saratoga, Belmont and Aqueduct, while its concessions to the state include the ability to develop land on the border of Long Island and Queens. NYRA will have some role in the oversight of development proposals, though specifics remain unclear.

Originally, an RFP was issued for the land at Belmont in 2012, but the state did not approve any of those proposals. This time, hockey team the New York Islanders is reported to be interested in the location. Once the official RFP is released, bidders will have six weeks to enter their proposals.

Read more at bloodhorse.com.

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