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City Council Approves Loan to Agricultural Society

Monday, 8 June 2015 06:44

Woodstock City Council has stepped in to help the Agricultural Society purchase a paddock barn owned by WINRAC.

WOODSTOCK - The WINRAC paddock barn at the Woodstock Raceway is getting a new lease on life. 

The Agricultural Society has secured funding to purchase the paddock barn owned by WINRAC Development Inc. Woodstock City Council stepped in to help the Agricultural Society purchase the barn by providing a $50 000 loan. WINRAC Development Inc. had the barn slated for demolition if the Agricultural Society couldn't come up with the money.

President of the Agricultural Society Gord Marshall says it was a race against time,"They [WINRAC] are looking at a closing date for negotiations to be finished on June 30th. We have gone to the bank - they have as yet not gotten back to us with an answer, so we felt that we would approach the city just in case."

WINRAC Development Inc. leased the Woodstock Raceway from the Agricultural Society for horse racing until 2012 when operations ceased. 

"...they felt that they didn't have the responsibility of looking after the property that they had leased, so we've had to do that since that - and we just felt that we didn't want a building of that value to be torn down," said Marshall.

The paddock barn is 80 feet by 300 feet, and according to Woodstock Chief Administrative Officer David Creery, is reasonably priced.

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