The New York Racing Association will receive a loan of $455 million to rebuild Belmont Park under bills that were passed by the state legislature late on Monday afternoon following negotiations between legislative leaders and Gov. Kathy Hochul.
The bills, part of a package of legislation authorizing elements of the state budget, are certain to be signed by Hochul over the next week. Legislative leaders and Hochul had given their support to the Belmont project prior to the bills being negotiated and passed.