Racetrack renovation financing details coming soon

Mayor Cooper's administration asked the Metro Fair Board to hold a special meeting the week of Jan. 31 to present details of its financing plan to renovate the fairgrounds racetrack.

• Fair Board commissioner Jason Bergeron challenged the Cooper administration to offer more details sooner, but mayoral aide Ben Eagles told board members the answers would have to wait until the special meeting.

Why it matters: Cooper has reached a deal in principle to renovate the track, but specifics on the financing plan have yet to be revealed.

• Eagles says the mayor's office is waiting on a report from a consultant hired to analyze the deal before presenting the entire plan to the board.

The details: Bergeron was especially interested in the financial guarantees that Bristol Motor Speedway — the contractor picked to run the renovated track — will provide the city as part of its lease agreement

• Bergeron also wanted to know how much money the state will contribute to the deal, more details about Bristol's partnerships with nonprofit groups, and how many dates the racetrack will be in use annually.

What's next: After receiving the financing plan, the board is expected to hold a public hearing to get feedback from the community before voting.