A survey on the future of New Plymouth's Raceway attracted more than 2850 responses, of which 51 per cent said they wanted the lease to end.
Last year, Taranaki Racing Incorporated asked the New Plymouth District Council (NPDC) for a "forever" or perpetual lease for the site after a legal issue meant it was in question.
While horse racing has taken place at the 38ha central-city site for more than a century, the council says the previous lease was voided about 20 years ago after the leaseholder, the Taranaki Jockey Club, changed its name to Taranaki Racing Incorporated.
The council says because Taranaki Racing Incorporated changed its name and structure, the original lease - which gave the group a perpetual, rent-free lease in 1959 - was no longer valid. The original lease included control of the buildings, the track itself and the majority of the land.
Taranaki Racing has a legal opinion which disputes the view that the lease is no longer valid.