Horse arena in Madrid fails to materialize

A horse arena venture being pursued by Joe and Diane Finney in Madrid will not materialize. 

The couple said they had high hopes of offering a learning/practice center and a place for equine events as well as agriculture and community betterment projects. 

Part of the property they were purchasing was in city limits. This created a problem as the Village of Madrid has an ordinance which forbids livestock within city limits. 

A special meeting of the Madrid Village Board was held on July 23 to discuss the 501 S Ford Ave., property. Because the couple sold their Wyoming ranch on a 1031 exchange, they were required to purchase an income-producing property within 45 days. The time constraint created another problem. 

At the Aug. 13 village board meeting, Attorney Joel Phillips presented correspondence on the possible land use change which included information on the legal description, state statutes, zoning and the regulations concerning the wellhead protection area.

However, because no action was taken by the board within the Finney’s time constraints, they were unable to complete the purchase of the property and canceled the contract. 

They expressed disappointment and frustration with the way the situation was handled. 

The current owner of the property and also a village board member, John Harms, expressed interest in the possibility of changing zoning to agriculture, as he would like to farm the ground. This is being explored.