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I-METT At the moment we are waiting to see the master plan for the proposed i-METT motorsport precinct. This is due out in June or July, once this happens we will be able to identify suitable blocks of land that will be adjacent to the proposed motorsport precinct. At the moment any land we find, we can’t act on without knowing where it will fit into the precinct, and this isn’t available until June of July.
The Government won't be making a decision on the go ahead for the project until the end of the year at the earliest. In the meantime we will trying to get a meeting with Paul Lucas the Minister for infrastructure & planning to see, how he sees the clubs involvement, and to try to short circuit the approval process.
At our last meeting with i-METT we agreed to exchange letters confirming in writing the basic details, under which we may be able to proceed with our involvement with the i-mett proposal, these include:
Time frame for approval by the Qld Government. Date for commencement of construction.
Cost of land if it was purchased from i-METT. Possibility of the establishment of a temporary circuit.
April 2008
I was hoping to have some exciting news to announce, but although there have been some positive developments, we are still in the position of not having any land yet.
The best thing that has happened over the last few weeks is that the state government has made an announcement regarding the creation of a motor sport precinct on the Gold Coast. The MS precinct is being developed by a company called I-METT The project has been given a special status by the state government which means that it can be fast tracked with approvals etc happening a lot faster than normal. I-METT has indicated that they would like to have the GCKC’s new facility included in the MS precinct. In fact they have offered to consider building us a temporary circuit until it is in a position to sell the club some land in 2-4 years. Alternately if we can purchase a suitable block adjacent to the precinct, it is possible that the GCCC would zone us into it.
There is land available, but the cost is very high at about $35,000.00 per acre, (as against $2500 - $10,000/ acre in the beaudesert shire). Also the GCCC isn’t in a position to do anything until the state government decides on the final way in which the land acquisition by I-METT (and us) can occur.
Whilst all this is going on we are still looking in the Beaudesert shire.
We have received the funds from the sale of our land and have deposited it in interest bearing accounts waiting until we need it.
At the special general meeting held last week it was resolved to form a trust to own the new facility. The club will be the beneficiary of the trust. This move will help to protect our asset in the future and will give the club more flexability when it comes to it’s use.
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