SANTA FE (KRQE) - The State Board of Finance is meeting Tuesday to consider the controversial 25-year lease with the Downs at Albuquerque racetrack and casino at the state fairgrounds.
The State Fair Commission already has approved the lease by a 4-3 vote.
The finance board is being asked to approve the lease for the horse track and a larger $20 million casino to be built away from the current grandstand and near the intersection of Central Avenue NE and Louisiana Boulevard.
The fair commission approved the new lease last month despite critics saying the bid process was rushed to favor the Downs, which holds the current lease.
The Downs was one of two companies that responded to a request for lease proposals.
The current lease expires next month.
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