Franklin County is considering TRAC's future as the county's partnership with the city of Pasco nears an end.
Commissioners agreed last week to hire a professional commercial appraisal to determine exactly what TRAC and two neighboring properties are worth.
With the 20-year partnership for TRAC ending in 2013, County Administrator Fred Bowen said the county needs to look at all options, including what to do if the city decides not to renew the partnership for operating the facility, which never has turned a profit.
"We are not ready to sell it by any means," said Commission Chairman Bob Koch. But he said the county needs to know what its options are as the contract runs out.
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The city and county opened the events center in 1995. TRAC is rented for a wide variety of events such as trade shows, motor events, concerts, equestrian sports, conventions, weddings, business meetings and hockey and brings thousands of visitors to the community.
This year, officials expect to see more than $2.1 million in revenue brought into TRAC, but about $2.5 million in expenses, according to county documents.
Pasco and the county evenly divide whatever TRAC's loss is each year, said Troy Woody, TRAC's general manager. On average, that's been about $400,000, or $200,000 for both cities.
Bowen said a commercial appraiser will help the county figure out the market value of the properties. The county's assessed value tends to be less than what an owner could get for the property on the open market.
The 27.6 acres that includes TRAC is assessed at about $3.6 million by the county assessor's office, according to county records.
Bowen said the county has yet to select or hire an appraiser and there isn't a cost for the contract yet.
-- Kristi Pihl: 582-1512; firstname.lastname@example.org