The Langley Speedway was once a crown jewel of car racing in the area, hosting events as big as Nascar.
But the track now sits empty, having closed in 1984 due to failing popularity.
"We think that if we partnered with Metro Vancouver and the community, it could again be a significant revenue generator for the community and for the parks," said Murray Jones, President of the Langley Speedway Historical Society.
The group has put forward a proposal to bring back racing every second Saturday during the summer.
Since the track closed, walking trails have sprung up in the surrounding Campbell Valley Regional Park. Some park users say a return to racing would result in too much noise pollution and disruption.
"I can't see how having Langley Speedway will do anything but negatively impact every other user of this park negatively," says Shelagh Niblock, who rides at the equestrian park 600 metres from the track.
Metro Vancouver's environment and parks committee has not made any decision on the future of the track, but is planning an extensive visit before deciding its fate next month.