FARGO (KFGO-AM) - Debt problems continue to plague the North Dakota Horse Park in Fargo. State Racing Commissioner Gunner laCour says after careful review, the racing commision has decided there will be no racing at the horse park this summer.
The group's that own the track currently owe nearly $2 million in tax increment financing to the City of Fargo. Repayment was to begin March 1 but laCour says no payment has been made and no viable plan to pay off the debt has been presented.
The required payment of special assessments and property taxes are estimated at $189,000 annually for the next 25-years. The previous dates announced for the Fargo track will be awarded to Chippewa Downs at Belcourt.