Race City Speedway has a busy season planned — tentatively, that is.

Although there have been ongoing talks between the city and Race City, an agreement hasn’t been reached yet and the deadline is March 31, according to owner Art Mackenzie.

“I’m still hopeful we reach something in time. We have a busy schedule ahead, if it exists. There hasn’t been a lot of progress, but we’re in talks,” he said.

After council extended the lease on the city’s only race facility, city administration initially wanted to increase the cost of the lease 3,000 per cent, Mackenzie said.

“But I think we might be able to get it lower than that, but the question is coming to an agreement on something reasonable.”

Calgary Oval Racing Association (CORA) president Chris Paavola said planning for a season when its fate is hanging on the hinges is challenging.

“We have a lot of plans, but it’s really tough not knowing. Everything is on hold until Race City tells us we are racing,” he said, adding CORA will be holding a fundraiser and have a booth at the upcoming World of Wheels event.

“Those are the only things we know for sure.”

Ward 12 Ald. Ric McIver has been advocating for the raceway to stay in Calgary and hopes an agreement can be reached as soon as possible.

“I still want to see a decision reached and I just encourage both sides to keep negotiating,” he said. “I think the city will benefit from Race City staying.”