The dissolution of the Caulfield Racecourse Reserve Board of Trustees and proposed change to management arrangements has been welcomed by Glen Eira City Council.

This follows the introduction yesterday of legislation by the State Government to establish a new, independent governing body for Caulfield Racecourse Reserve.

Caulfield Racecourse Reserve was gazetted as public land 138 years ago, but has been mainly restricted in use for racecourse training activities.

Glen Eira Mayor Cr Mary Delahunty said Council was pleased with the long-awaited announcement.

"Council has been waiting a long time for this announcement — and so has the Glen Eira community," Cr Delahunty said.

"The hard work undertaken by various stakeholders has certainly paid off."

Cr Delahunty said if the legislation is passed, it will enable the governing body to manage the 54 hectare parcel of Crown land more effectively and for the purposes it was reserved for — including public open space.

"We look forward to the adoption of the new legislation and improved open space outcomes for the community," Cr Delahunty said.