Shire takes the plunge on missing funds for aquatic centre

THE Surf Coast Shire council has taken the plunge and will increase its financial commitment to fully fund the $39.25 million Surf Coast Aquatic and Health Centre in Torquay.

The council resolved at its meeting tonight (Tuesday, April 27) to bridge the final funding gap with $500,000 in extra borrowings on top of its February 2021 commitment of $5.25 million.

The council’s decision gives a green light for the project to be delivered at full scope, providing a community health, fitness and wellbeing centre with an indoor 50-metre heated pool, multipurpose warm water pool, gym and multi-purpose program rooms as well as allied health suites and community meeting spaces.

The new centre will be integrated with the recently-completed $13.5 million Wurdi Baierr Stadium in Torquay North and will be the council’s biggest ever project.

Planning and building is estimated to take three years.

“I am proud that we have made this historic decision and excited by what the aquatic and health centre will bring to our community,” shire mayor Libby Stapleton said.

“In making their decision, councillors acknowledged that funding commitments already in place from the Australian and Victorian governments presented an opportunity too good to be missed.

“Council had already resolved on the site, the scope and made a significant commitment of land, cash and borrowings. This decision to provide the last piece of the funding puzzle enables this wonderful project to go ahead for the benefit of people of all ages and abilities across generations.

“We considered our options to seek further external funding but are realistic that our funding partners have already been generous and that further grants are unlikely, and further delays are unhelpful for everyone.”

The extra $500,000 commitment will lift the council’s total available borrowings for the project to $4.75 million and add $27,000 in estimated annual debt servicing costs.

The federal Coalition made an election commitment of $20 million towards the project. State Labor promised a further $10 million ahead of the 2018 election, and recently provided another $3.5 million from its Growing Suburbs Fund.