Oceanport Breathes Sigh of Relief with Racetrack Lease Deal

The borough's mayor hopes the track could add features to make it a year-round destination.

With the signing on Monday of a five-year lease deal to keep Monmouth Park up and running, Oceanport officials were able to exhale knowing that the borough's top taxpayer and employer was staying put. "It eliminates uncertainty for this season," said Oceanport Mayor Michael Mahon following Tuesday's join council and board of education meeting at Maple Place School. The New Jersey Thoroughbred Horsemen's Association signed an initial five-year lease deal with the New Jersey Sports and Exposition Authority this week, which the mayor said included three 10-year extensions. The operating lease protects Oceanport's tax payment, according to a release from the mayor's office, and the repayment of a $23 million loan for environmental remediation…

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