loan

An Albany County Court Judge has dismissed a lawsuit from two New York taxpayers backed by PETA that attempted to block the State of New York from loaning NYRA $455 million that is earmarked for the construction of a new Belmont Park. The new Belmont Park is expected to open for the 2026 spring meet. The plaintiffs, Jannette Patterson and John Dileonardo, had argued that the New York State Constitution prohibited the state from giving or loaning state funds to any private corporation. The lawsuit, filed in June, was announced...

Two New York residents sued the state, its governing bodies, elected officials, and the New York Racing Association (NYRA) on Thursday in an attempt to block the recently announced $455-million loan to renovate Belmont Park. "This case is about the State of New York's unconstitutional appropriation of taxpayer funds by loaning nearly half a billion dollars to NYRA, all while turning a blind eye to NYRA's past two decades of financial mismanagement, malfeasance and scandal, and, more importantly, ignoring the State's Constitutional prohibition against providing State monies--whether by loan or...