http://www.tucsoncitizen.com/index.php?page=local&story_id=070705a4_rillito

"The historic track - it is on the National Register of Historic Places as
a quarter-horse racing facility of note - at North First Avenue and East
River Road could be history if Pima County officials heed an engineering
firm's report that grandstand facilities at the 88-acre park need up to
$1.5 million in repairs."

If it's on the National Register, I'd think they may be able to get some
grants.

"County officials are looking at several choices: Pony up the $1.5 million,
raze the track and erect a new one at an estimated cost of $4 million to $6
million, or move the annual seven-week winter horse racing schedule to the
Southeast Side at or near the Pima County Fairgrounds.

The last option most likely will be recommended by Pima County
Administrator Chuck Huckelberry."

Well if it's dangerous, they'd probably have to raze it due to insurance
concerns anyway. I know the old harness track in Phoenix is still sort of
standing, but it's way out in the boonies.