Paterson: NYRA Loan Coming Down The Stretch
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Governor David Paterson says thoroughbred racing at Belmont and Saratoga race tracks will proceed as scheduled.
He says he expects Albany lawmakers to pass a new plan loaning up to $25 million to the New York Racing Association.
The proposal replaces a $17 million loan that was found to be unworkable.
NYRA officials say they're running out of money and may have to shut down after the Belmont Stakes, which is less than three weeks away.
Political controversy delayed the installation of video terminals at Aqueduct race track, hurting NYRA's cash flow.
Assembly Speaker Sheldon Silver says he supports the agency and that so far he isn't rejecting the legislation.