In the time they have left to decide whether to acquire Spokane Raceway Park, Spokane County commissioners may be wary of repeating their predecessors’ missed opportunities. At the same time, however, they need to be sure they don’t commit a financial fiasco that will become future commissioners’ model for what to avoid.

The 592-acre complex is on the block thanks to years of complications that go back to its original financing more than 30 years ago. Investors who poured $2.5 million into operator Orville Moe’s enterprise never saw a penny in return and sued. Control of the facility is in the hands of a court-appointed receiver, who is said to be interested in working out a sale this fall so proceeds can be used to settle up with the investors.

Why would Spokane County want to buy an expanse of West Plains land that is home to a drag strip and a half-mile oval track? Let us count the reasons.

“It has potential for what it is, a racing facility that attracts motor sports enthusiasts’ tourism dollars to the community despite what some call dubious management.

“The county has already identified a looming need for a correctional facility. Proximity to an existing state corrections facility at Airway Heights might keep nearby residents’ opposition to a minimum.

“An operating gravel pit there would be a positive from the county Road Department’s point of view.

“Sheriff Ozzie Knezovich has talked to commissioners about a regional law enforcement training compound – complete with pursuit and defensive driving facilities. The raceway park could be just the place.

“Having already committed to county aquatic centers in the north and south parts of the county, commissioners might want to do the same to the west.

“Part of the property lies along Hayford Road, which raises commercial and residential development potential.

As the commissioners weigh whether some combination of these and/or other possibilities are worth the acquisition costs, they need to be faithful to the pledge they have made to avoid a risky, speculative deal.

The price is one of the first factors to consider. The figure $26 million has been mentioned often, but County Commissioner Todd Mielke says he’s heard estimates as high as $80 million. But the county itself and the Kalispell Indian Tribe (which plans to expand its nearby Northern Quest Casino) have obtained appraisals reportedly in the $6 million to $7.5 million range.

County leaders also have to ask themselves if operating a racing facility is an appropriate role for local government. Yes, it works in Portland, but Portland is a major metropolitan center situated in a populous transportation corridor. Spokane, the largest city between Seattle and Minneapolis, is, well, more isolated.

Finally, acquiring land for its real estate development potential is better suited to the private sector from the outset.

If the proposed purchase’s list of attractions has the commissioners revving their engines, they need to give the list of cautions at least as much consideration.