LB - Yavapai Regional Medical Center

Home | Classifieds | Place an ad | Obituaries | Public Notices | Galleries | Opinions | Real Estate Search | 928 Media Lab | Contact Us | Subscribe
Prescott Valley Tribune | Prescott Valley, Arizona

home : latest news : local April 29, 2016


7/29/2012 9:41:00 AM
Yavapai Downs purchase negotiations continue
File Photo/Courtesy The Daily Courier
File Photo/Courtesy The Daily Courier

Joanna Dodder Nellans
Special to the Tribune


Negotiations for the purchase of the Yavapai Downs horse racetrack continue between the U.S. Department of Agriculture's Office of Rural Development and Gary Miller, former president of the group that represents Arizona horsemen.

The federal agency holds about $14.7 million worth of loans on the 11-year-old racetrack facilities in Prescott Valley, so it has final say on the purchase.

Miller submitted the top bid of $3.25 million for the track facilities during a bankruptcy court auction April 3, but three days later the federal government rejected the bid.

After unsuccessfully trying to find a better offer, including negotiating with the second-highest bidder, the feds called him a few weeks later, Miller said.

"I find the USDA really positive now, and they want to get a deal rolling," Miller said.

"There's still ongoing negotiations," said Dianna Jennings, public affairs officer for the U.S. Department of Agriculture in Arizona. The principal USDA negotiators were out of the office Thursday and Friday and unable to provide more details, she said.

Jennings said she didn't know if the feds are negotiating with anyone other than Miller, and Miller said he is unaware of any other bidders at this time.

Miller said he's submitted a higher bid for the track.

"I think I've given them a fair offer," he said. "Do I think we're close? I don't know, but I hope so."

The facilities include a one-mile horse racetrack, the 93,328-square-foot grandstands, about 860 horse stalls and a neighboring car racetrack.

Most of the annual county fair took place on neighboring property, including the Coors Event Center. That property is not part of the sale.

The Downs employed about 300 people each summer alongside hundreds of trainers, jockeys and assistants until it failed to open last year.

"I never stopped thinking we could get this track open, but it's more and more of a long shot for this year," Miller said. The summer season typically ends on Labor Day weekend.

"I'm optimistic about the track opening next year," he said.

USDA Rural Development originally loaned the Yavapai County Fair Association about half the money it needed to build a new $22 million track in Prescott Valley in 2001 to replace the shorter track in Prescott.

The summer racing meet in the Prescott area had been operating since 1960, and horse racing here dates back to territorial days.

Related Stories:
• Racetrack sale hearing is Oct. 30
• Possible $5.5M Downs deal; track could be open by Memorial Day
• Attorney: Track could have stayed afloat
• Hope fades for Yavapai Downs season in Prescott Valley
• Feds reject 2nd-highest Yavapai Downs bid


    Most Viewed     Recently Commented
•   Glassford Hill Trail isn't open, but that's not stopping hikers (402 views)

•   PV businessman gives freedom to those who fought for it (358 views)

•   Mayer to celebrate Western Trade Days (227 views)

•   Voters to weigh in on Prop. 123 (194 views)

•   Prop. 124, fix for pensions, has broad support (172 views)





Article Comment Submission Form
Comments are not posted immediately. Submissions must adhere to our Use of Service Terms of Use agreement. Rambling or nonsensical comments may not be posted. Comments are limited to Facebook character limits. In order for us to reasonably manage this feature we may limit excessive comment entries.
Submit an Article Comment
First Name:
Required
Last Name:
Required
Telephone:
Required
Email:
Required
Comment:
Required
Passcode:
Required
Anti-SPAM Passcode Click here to see a new mix of characters.
This is an anti-SPAM device. It is not case sensitive.
   


Advanced Search

HSE - We want to hear from you
Find more about Weather in Prescott Valley, AZ
Click for weather forecast





Find It Features Blogs Milestones Extras Submit Other Publications Local Listings
Classifieds | Place an ad | Public Notices | Galleries | Opinions | Real Estate Search | Contact Us | Subscribe | e-newsletter | RSS | Site Map
LB - Orthopaedic Specialists of Central Arizona

© Copyright 2016 Prescott Newspapers, Inc. The Prescott Valley Tribune is the information source for Prescott Valley area communities in Northern Arizona. Original content may not be reprinted or distributed without the written permission of Prescott Newspapers, Inc. Prescott Newspapers Online is a service of Prescott Newspapers, Inc. By using the Site, pvtrib.com ®, you agree to abide and be bound by the Site's terms of use and Privacy Policy, which prohibit commercial use of any information on the Site. Click here to submit your questions, comments or suggestions. Prescott Newspapers Online is a proud publication of Western News&Info Inc.® All Rights Reserved.

Software © 1998-2016 1up! Software, All Rights Reserved