NEW BREMEN The signatures arent on the final document that will bring racing action back to the Adirondack International Speedway, but all parties are expected to agree to a settlement Friday, ending a four-year struggle for track owner Paul H. Lyndaker to reopen the facility.
We believe weve reached a resolution that is satisfactory to all parties, but it has yet to be finalized, Lewis County Attorney Richard J. Graham said.
The settlement is the last of several hurdles Mr. Lyndaker faced since the track closed in 2009.
A handshake deal between the town of New Bremen and Mr. Lyndaker, establishing a reduced tax assessment, gave a glimmer of hope for its return.
Fridays settlement, however, has taken more than a handshake. In addition to the county and Mr. Lyndaker, the state and Lewis County Opportunities were named in the 2010 lawsuit that was filed by the speedway against the county.
Mr. Lyndaker, in the suit, contended a mortgage placed on the property should have expired after he met the conditions of a 2004 Assurance of Discontinuance executed by the state comptroller.
Mr. Graham and Mr. Lyndaker both declined to divulge the details of the settlement, although Mr. Lyndaker said, Weve talked it all out and it all sounds good.
Final approval of the settlement will have to come from the state attorney generals office.
Anticipating its approval, the Lewis County Fall Foliage Welcome All Race has been set for Oct. 6.
Its really a preview of whats to come in 2014, Mr. Lyndaker said.
He met with drivers, car owners and fans over the weekend, with hopes of arranging an event before the end of the season to give spectators that preview.
The asphalt is still partially covered with dirt from an earlier action to reduce taxes, and the grounds are overgrown. A large amount of aluminum and wiring was discovered stolen during the tracks closure, but Mr. Lyndaker said he was confident he can have it ready for the public in less than three weeks.
The pits open at noon Oct. 6,, with races set to begin at 2 p.m. Admission is $5.