Motorsports precinct business case set for August
Published on 14 June 2016
Mildura Rural City Council has confirmed almost all local motorsports groups have indicated their interest in moving to the proposed Motorsports Precinct with the draft business case set to be presented to Council in August.
Mayor Glenn Milne said the original business case was looking at just one motorsport group making the new facility their home initially, however up to six motorsport and private businesses have now confirmed they want in on the project.
“We have been doing a lot of work with the clubs, the general community and businesses and the response has been absolutely fantastic,” Cr Milne said. “The interest generated means that we need to rework some parts of the business plan to incorporate the additional groups and the potential investors.”
While the scope and cost of the business case won’t change, a number of additional reports and assessments will now be required including a vegetation assessment and additional costings towards the proposed infrastructure and associated costs for each stage of the development.
“All these factors have an impact on the final business case. This additional information will change the possible income, expenses and economic benefits that the precinct will deliver for the community which in turn could impact funding options within the business case.
“There has been interest by private businesses and individuals who would like to contribute towards the first stages of the motorsports precinct, which is absolutely fantastic and will also need to be incorporated within the business case and investment prospectus.”
“This is certainly not something we want to see delayed any longer. Our reputation as a motorsports town is already very strong and we need to capitalise on this. But we need to get this right and we need to make sure the business case is rock solid.”
The 2011 North West Victorian Motorsports feasibility study indicated participation levels in motorsports in North West Victoria are four times greater than the national average. Mildura has the added advantage of being reasonably isolated in terms of drive-in/drive-out competitors, with most racing teams having to stay overnight in order to compete.
Mildura currently hosts more than 90 motorsports events each year and it’s estimated the local motorsports industry brings around $21.4million to our region each year.
The business case was originally due to be completed by June 2016 but will now be presented to Council in August with a final round of community consultation to take place in September and the document completed in early 2017.
ENDS
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Angela Umback
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e) angela.umback@mildura.vic.gov.au