$14m in hock

By Casey Neill
KNOX Council may wind up almost $14 million in debt to complete stage one of its $65 million sporting precinct.
Federal Infrastructure Minister Anthony Albanese last Thursday (7 May) announced the Federal Government would chip in $7 million for the project under its Community Infrastructure Program.
The announcement followed the State Government’s $7 million budget pledge on Monday 4 May.
The cash leaves the council with a shortfall of almost $14 million to complete the project’s $27.65 million first phase.
Knox mayor David Cooper said a low-interest-rate loan was likely to fund the council’s contribution.
The loan would put the council in debt for the first time since 1995.
Last September councillor Adam Gill questioned how much money the council should contribute to the regional facility.
“Whatever we borrow has to be paid back through rates,” he said.
Cr Gill this week told the Mail he hoped the project’s price tag might reduce in the current economic climate. He said the council’s contribution would not be decided until a tender process was complete.
Friberg Ward councillor Andrew Walter said he was “a little bit concerned” about the loan.
The Wantirna South project was born after Knox Basketball Incorporated asked the council to expand its Boronia stadium in November 2006.
A working party of KBI, Sport and Recreation Victoria and Knox Council representatives reviewed the situation and last September recommended the council build a stadium to overcome a shortage of basketball and soccer facilities.
The precinct will include indoor courts and outdoor synthetic pitches for basketball, netball, badminton, table tennis, soccer and gymnastics
It will host international, national, state and regional events, be home to Basketball Victoria and Knox Basketball Association and form a regional base for Football Federation Victoria.
Stage one will include six new courts plus a 3500-seat show court and create more than 350 jobs during construction.
Three courts will be included in stage two. Another will follow in stage three, depending on membership growth.
Knox Basketball chairman Wayne Carroll said the funding announcement was a pleasant surprise and a great relief.
“It will enable our domestic players to play in the best facility possible,” he said.
Basketball Victoria chief executive Wayne Bird said the cash recognised basketball’s importance in Victoria. “This is great news for our sport,” he said.
The sporting precinct will be central to 14 basketball associations with more than 43,000 registered participants.
There are more than 8000 Knox Basketball players. Knox has 12 indoor sports stadiums with 22 indoor courts. Just four courts are used for competition but are deemed substandard and in need of replacement.