Major upgrade works have begun at the Bordertown Speedway to make the facility a “world-class” race track.

Once completed, the project aims to put Bordertown on the map, with a facility big enough to attract all types of racing.

While the project has hit many speedbumps, the Bordertown Speedway Club says budget has been a big factor.

In April, the club reached out to the Tatiara District Council for a $150,000 loan to help complete the project.

A presentation was made at the April Council meeting by the club’s representatives, Wayne Rowett and Tiffany Golding.

The representatives provided an update to the council on the progress of the project, which included:

• Stage 1 – Earthworks, lawn, and sprinkler system completed.
• Stage 2 – Concrete wall nearing completion. Includes 340 cubic metres of concrete, 172 wall panels.
• Stage 3 – Safety catch fence and electrical upgrades (the club is working on Stage 3).
• In-kind labour contributions for building – Concrete wall 2,200 hours plus 400 hours of labour to build the catch fence and hydraulic gates, plus 2,600 hours of labour donated. Juniors from high school, seniors, and life members have contributed their time.

With work on schedule, the representatives told council that the club was looking to borrow $150,000 to help complete the project.

“It might not be a world-class facility yet, but trust us, we are working on building the concrete wall,” Mr Rowett told the council.

He said the club had gotten a quote of $550,000 to get the concrete wall done.

“So, we have reached out to town and local businesses and bought the materials for probably $150,000.”

Ms Golding said the loan that they have asked the council for is part of the application that was matched with budget money and is state government funding.

“…probably at a time when the council granted the loan, we didn’t know what the terms and conditions were going to be,” she said.

“Whereas now, we are ready to drawdown that loan to meet our financial dollar-to-dollar contribution, which this loan takes a part of.

“I think what has been offered in the report tonight (April 9), aligns with what we are doing.

“Being that we are not-for-profit, we are doing infrastructure upgrades that sit on council land, and as the building develops, you can see there is so much potential for not just us but other community groups.”

During discussion, mayor Liz Goossens asked the representatives how many school children have helped with their in-kind support for the project.

“We had up to seven and eight, and when school started, they went back to Adelaide. With the school holiday coming up, we might get another five to six,” Mr Rowett replied.

Contributing to the discussion, Cr Lynton Mackenzie said the project was a great initiative to put Bordertown on the map and showed what could be achieved through the support of the community and businesses.

Cr Mackenzie moved that the council approve the Bordertown Speedway loan offer of up to $150,000 be available in accordance with the scope of the Internal Control Policy—Loans to Clubs and Community Groups—with the following conditions:

• The loan to the Bordertown Speedway with identical conditions as per the Local Government Finance Authority will be available as a fixed-rate, interest-only borrowing for a five-year term, followed by a five-year principal and interest repayment option. (10-year repayment term overall).
• At completion of the initial interest-only five-year term, a subsequent five-year principal and interest agreement will be negotiated at either fixed or variable conditions as per the LGFA rates at that point in time.

The motion was seconded by Cr Richard Halliday and carried.

This article appeared in the Naracoorte Community News.