The Polk County Board of Supervisors approved a new 15-year lease agreement with Prairie Meadows Racetrack and Casino during a special meeting called on Monday.
The lease remains subject to final approval by the Iowa Racing and Gaming Commission. The agreement runs through 2041 and could be extended for up to an additional 10 years.
The lease structure is shifting to resemble a traditional landlord-tenant arrangement, giving Polk County a steady revenue stream and shifting property-related obligations to Prairie Meadows…