Stock car racing will continue in the city for at least another five years following Yorkton Council agreeing to lease the land where the track is located for another half decade.
"Parkland racing has leased the present site since Jan. 1, 2004. The previous lease covered the period January 1, 2009 to Dec. 31, 2013 with an option to renew for a further term of five years. The site consists of approximately 20 acres of land on the east side of Sully Road near LDM Foods," said City Manager David Putz.
It was City Administrations recommendation the lease be renewed for another five-yeasr term with an option to renew for a further five years and the annual lease fee is $1,000.
"The major change is that in the past the lease provided for charging property taxes, however they were not billed. Parkland Racing has agreed to pay Property Taxes of approximately $750 per year beginning in 2014," added Putz.
Councillor Larry Pearen asked if renewing the lease would impact the City's ability to provide land for industrial development?
Putz said with recent annexation of land into the city, there are other options for industrial development, leaving a lease renewal as viable.
The recommendation was given unanimous consent by Council.
