Alameda Board of Supervisors offer rent to former racetrack employees
The Brief
The Alameda County Board of Supervisors voted Tuesay to pay rent for families with children living at the RV Park at the Alameda County Fairgrounds.
Many residents are former employees of the racetrack, which ceased operations earlier this year.
The rent will only last through the rest of the school year.
ALAMEDA, Calif. - The Alameda County Board of Supervisors voted on Tuesday to pay the rents of multiple families with children living at the RV Park at the Alameda County Fairgrounds.
Those families had until recently lived on subsidized rent due to their work with the stables and horses that participated in the races at the fairgrounds. However, the Fair Board of Directors voted at a closed session on Jan. 20 to end horse racing at the Alameda County Fairgrounds, and asked for the removal of the horses by March 25.
With the horses now gone, the families who had previously relied on the races for their income were left with few options. Many have children enrolled in Pleasanton Schools.
By the numbers
The exact amount the board will provide is currently unclear, but the county will be working with Centro Legal de la Raza to utilize emergency financial assistance funding through Housing and Community Development's Alameda County Housing Secure program to pay negotiated rents for families with children.
The goal is to provide funding for three months of rents, to get the recipients through the end of the school year, but the funding may come through one month at a time.
"We've been monitoring this situation for some time. We were happy the board made the decision to subsidize these rents so no one will be displaced and people can go on living their lives knowing they won't have to worry about rent for a couple months," Shawn Wilson, chief of staff for Alameda County Supervisor David Haubert, said.
The backstory
The Alameda County racetrack was the oldest one-mile track in the United States before it closed earlier this year.
The fairgrounds' stables and horse training facility closed on March 25. The County Fair Board reportedly wanted to revive the horse racing that had been hosted on the property for at least five generations, but money and regulatory issues prevented that from happening.
An assistant trainer at the time told KTVU that "at least 500 people" had lost their jobs as a result of the closure.
The Source
Shawn Wilson, Chief of Staff, Alameda County Supervisor David Haubert
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current (note 12) 3,602,368 2,449,384 Total current liabilities 14,036,226 14,198,051 Non-current liabilities: Lease liability (note 10) 1,592,304 1,695,228 Debt - non-current (note 12) 8,604,855 8,640,727 Warrants (note 13) 195,037 63,968 Total non-current liabilities 10,392,196 10,399,923 Shareholders' equity: Share capital (note 14) 123,143,637 123,136,971 Share based payment reserve 11,547,807 11,515,195 Deficit (132,383,082) (131,497,177) Total Shareholders' equity 2,308,362 3,154,989 Total Liabilities and Equity $ 26,736,784 $ 27,752,963 Condensed Consolidated Interim Statements of Operations and Comprehensive Loss(Unaudited)(Expressed in United States dollars) For the three months ended March 31 2025 2024 Revenue (note 16)$ 15,088,846 $ 15,589,852 Cost of goods sold (note 5)8,864,174 9,498,901 Gross Profit6,224,672 6,090,951 Operating expenses: Fulfillment costs895,598 997,767 Selling and marketing1,415,059 1,362,557 Administration3,298,776 3,346,772 Depreciation and amortization770,538 700,836 6,379,971 6,407,932 Profit (loss) from operations(155,299) (316,981) Other income (expense): Interest income6,440 22,102 Interest expense(348,610) (329,862) Rental income- 56,195 Fair value adjustment of warrants (note 13)(130,569) 3,039 Restructuring costs (note 20)(120,014) - 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