The Australian V8 Supercar series looks set to gain another new street race from 2009 after plans to redevelop an area of Townsville received not only the green light, but two promises of financial assistance from opposing political parties.
After much talk, Townsville Enterprise can now prepare detailed plans for what is being described as 'a V8 Supercar and multi-purpose events precinct', as prime minister John Howard revealed that he would match a Labour Party commitment to partially fund the project.
Under the proposal, a street circuit and supporting facilities - including a multi-purpose events building, pit garages, parklands, spectator mounds and walkways - will be developed around Railway Estate's Boundary Street and Reid Park. Additional leisure facilities are likely to be considered during a number of community consultations.
Townsville Enterprise chief executive officer Glenys Schuntner congratulated both sides of Federal Government for their vision and support after Howard and opposition leader Kevin Rudd pledged to provide the final $10 million needed to build the $41 million venue. Howard announced the Liberal Party's commitment during a visit to Townsville, and promised to provide the funding if re-elected later this month, following the Labor Party's decision to offer its own $10 million commitment on 24 October.
While the two pledges can be seen as political posturing designed to win votes, Schuntner admitted that the confirmation of funding by both sides of government was a huge milestone for Townsville. A total of $31.7 million has already been contributed by the state government, Townsville city council, Townsville Enterprise and local businesses, but the money from higher up the ladder would complete the required funding.
“We congratulate both sides of government on understanding the importance of hosting such a signature annual event in Townsville," Schuntner said, "It is one which will benefit the wider North Queensland region to no end.
