Pukekura Raceway has been the home of racing in New Plymouth for more than 160 years.
New Plymouth District Council is seeking public feedback on the future of the 38-hectare central New Plymouth site.
Taranaki Racing Incorporated's (TRI) lease arrangements are currently uncertain, due to complex and historical reasons.
They have approached NPDC to ask for a "forever" or perpetual lease on the same terms as their original agreement, drafted several decades ago.
The paperwork for this would require changing or drafting new laws via Parliament.
Another option is to grant a short-term lease under the Reserves Act.
It comes as the Government is looking at racing reforms across New Zealand which could result in the amalgamation of racing clubs around the country.
Sport Taranaki, supported by TRI, has suggested a multi-purpose sports hub could be housed at the raceway in the future.
New Plymouth mayor Neil Holdom and councillors are encouraging people to fill out a survey to help them with their decision-making.
More detailed information and the two-minute survey are available here.
■ Feedback closes Friday, July 10 at 5pm.