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donors, and efficient, responsible management of the Center.”

IMPORTANCE OF THE PARTNERSHIP

Each year, except during the 2001 budget impasse, the General Assembly has funded the Virginia Horse Center’s debt service via the appropriations process according to the original public-private partnership business model. However, last year the legislative money committees appropriated just two thirds of the funding needed to cover the debt and indicated that the state’s financial assistance would be phased out over the next few years.

Governor Mark Warner’s proposed 2004-2005 budget includes the request for $637,000 to cover the Virginia Horse Center’s debt service for the first year of the biennium, an amount that is just over half of what the Horse Center’s debt will be next year. While this is in line with the phase out plan, the Horse Center is optimistic that state funding can be restored.

“We’re pleased that the governor included partial funding in his proposed budget and we remain hopeful that the state will rethink the phase out plan,” said Lethia Hammond. She noted that if the Virginia Horse Center is forced to default on the debt payment or is privatized, the negative repercussions would be great. “It is very likely the land would end up being developed, substantial private investments would be lost, and the Virginia Horse Center would lose some or all of its facilities,” she said. “In addition, localities that are already strapped for funds would lose tax revenues and many historic farms that have been preserved by horse enthusiasts would be endangered.

“The public-private partnership is often presented at the state level as a means of financing various local initiatives,” she continued. If the investments made by private donors were to be lost because the Center can not remain solvent without state support for the debt service, it is likely private investors would be hesitant to enter into other similar agreements.

While the Virginia Horse Center is exploring a variety of opportunities to reduce its dependence on the Commonwealth’s debt service appropriation, Executive Director Scott explained that raising user fees to offset the funding shortfall or privatizing the Horse Center are not viable options.

“The Virginia Horse Center must compete with similar facilities in neighboring states and around the country that receive debt service and operations funding from their respective states, which allows them to offer lower user fees,” he said. “Any private entity would have the same debt service payment and same challenges currently faced by the Horse Center when competing with its counterparts for event bookings.”

For the past several months, the Virginia Horse Center has been spreading the word about the importance of the Virginia Horse Center to the local, regional and state economies. The Horse Center distributed a business plan to many legislators that outlines the need

for continued state support as well as increased private fundraising. This effort to educate state legislators, local elected officials, and the public at large has been assisted by concerned Horse Center supporters who last fall formed the Friends of the Virginia Horse Center.

“The Virginia Horse Center is a world class equine facility worth saving,” according to Lethia Hammond. “Not only does the facility and the tourism industry it created yield millions of dollars in tax revenues and hundreds of jobs for local and state economies, it provides wholesome recreational opportunities for hundreds of thousands of equine enthusiasts.

“Numerous equine interests have located in the Commonwealth because of the Virginia Horse Center and many state, regional and national horse shows have made the Horse Center their home. Olympic and United States Equestrian Team members are regular competitors at the Center and many of the children and young adults who show here would not otherwise have the opportunity to compete in a facility of this caliber.”

She also said that though the Virginia Horse Center has successfully raised millions of dollars in private funds for capital improvements and operations, fund raising efforts are strained as a result of the actions taken by the 2003 General Assembly. “It is very difficult to raise money for debt service,” she said. “Without financial stability, it is unlikely or impossible for other ventures to consider investing time and resources in a long-term relationship with a facility that may not remain a going concern.”

While efforts to secure the Horse Center’s future continue, John Scott and Lethia Hammond are enthusiastic about the upcoming season, which kicked off in January with the popular Winter Eastern National Draft Horse Pull followed the next weekend by another perennial favorite, the Lone Star Championship Rodeo.

“We are excited about the many new additions to the Virginia Horse Center’s 2004 line up including a two day presentation by Pat Parelli Natural Horsemanship in May, a five day eventing clinic by Olympic gold medalist David O’Connor in June, the American Vaulting Association Region IX Show in July, and the United States Equestrian Federation Pony Medal Finals in August,” said John Scott.

For more information about the Friends of the Virginia Horse Center, or to join, please contact Lethia Hammond at (540) 464-2950. A detailed 2004 Virginia Horse Center schedule is available at www.horsecenter.org. The schedule is tentative and events and dates are subject to change.

For more information:

Lethia Hammond

Public Relations Director

Virginia Horse Center

487 Maury River Rd.

Lexington, VA 24450

(540) 434-2950