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Last week’s sudden announcement that Freehold Raceway would be closing at the end of the year shocked the local and horse racing community. Losing the nation’s oldest existing horse racing facility will have an impact far outside the Freehold borders, according to people familiar with the industry. “If it’s going to work as a racetrack, we need to make sure it’s long-term,” said Freehold Borough Mayor Kevin Kane. The racetrack will be closing in December. Kane says he learned of the upcoming closure last Thursday morning. Like many others, he wants to see it remain a racetrack. It’s a tough path forward, considering the value of the prime Central Jersey real estate. “What we are going to do is authorize a redevelopment study on that property to make sure we’re in control of that situation,” Kane said. RELATED: Freehold Raceway, nation’s oldest daytime harness racing track, announces closure after 170 years “If we lost Freehold Raceway we would probably lose…..