Mangano favors fund advance for NYRA

With NYRA’s budget seemingly coming up lame this year, residents and local leaders are hopeful that a state-granted advance could help stop job losses, and race cancellations, at Belmont Park.

Nassau County Executive Ed Mangano released a statement last week saying he was in favor of advancing the racing authority some much-needed capital, if it could save jobs.

“I fully support advancing capital funds already authorized for the racing industry to NYRA to ensure a complete racing season at Belmont,” Mangano said in a statement released through his office. “Gambling with the future of Belmont jobs is one bet no one should be willing to take.”

NYRA has maintained for months that their fiscal problems were not long from spilling over and affecting the community at large. Now, according to numerous reports, the organization is hoping to receive advance funds already earmarked for their group to help offset any income losses as a result of the shutdown of New York City’s Off-track betting parlors. Late last week in an interview, Gov. David Paterson acknowledged that the parlors would be closing, and the state couldn’t come to an agreement to prevent it.

According to published reports, Paterson’s office has been involved in putting together a bailout of more than $15 million for the group, which would include the funds necessary to hold onto jobs, for the time being, at Belmont.

NYRA’s financial situation has been a hot topic for just about everyone concerned with Elmont’s job situation over the last year, with many residents believing that the track should be the lynchpin of any effort to financially stimulate the area.

At a rally last month, hundreds of residents came out to support horse breeders and trainers who live in constant fear that Belmont Park, Aqueduct Racetrack or both are at risk of closing down for a portion of the upcoming racing season.

NYRA has gone far and wide to plead its case, claiming that feuds with the Nassau Off-Track Betting Corp. and dwindling attendance is causing its business to atrophy badly. Couple that with the shutdown of New York City’s OTB parlors and the result is grim.

For Mangano, the focus is squarely on job creation and retention in the county. The loss of the jobs — not to mention revenue generation — that Belmont provides is not something Elmont and Nassau should take lying down, he said.

“The running of the 142nd Belmont Stakes on June 5, 2010 and the completion of the entire Belmont racing season is vitally important to Nassau County’s economy,” he said. “Since day one, my top priority has been to help rebuild our economy and put people back to work.  That includes retaining every job at Belmont Park and those jobs created in the surrounding community because of the track.”