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Promoter seeks Polk County backing for Des Moines horse track
Promoter Ken Grandquist asks Polk County to guarantee $48 million financing for a Des Moines area parimutuel horse track. If the project fails the county could owe $2.9 million in annual bond interest, but projections promise up to $400,000 yearly in leases if attendance and betting meet targets. County officials weigh public‑private risk sharing amid investor hesitancy.
MENTIONED IN THIS ARTICLE
Polk County
DES Moines
Des Moines Area
Ken Grandquist
Grandquist
Jack Bishop
Polk County Board of Supervisors
Richard Brannan
Mulcahy