Loan plan for Warrnambool Golf Club project 'parked', for now

Warrnambool Golf Club will still need to take out a loan to cover the cost of the project - but with private fundraising exceeding targets, club manager Ashlee Scott said it wouldn't need as much as first thought.

The invoice schedule for the project had also changed which has also bought the club some breathing space.

With building costs soaring in recent times, the budget for the project blew out, leaving the club with the task of finding extra cash.

In May, funding for the project was about $1 million short - and in need of an extra $1 million if you included contingency and some extra furnishings.

The club had hoped to get the city council to go guarantor for a loan.

But mayor Debbie Arnott said the council has had several discussions about the proposal from the golf club, but at this stage did not plan to progress the matter to a council meeting.

"There is no policy basis supporting council to act as loan guarantor where council has no surety over the land or where council is not the land manager," she said.

"All councillors agree it is an excellent project that is good for Warrnambool, for the sport of golf and for our visitor economy."

Councillors have been invited to tour the clubhouse on Wednesday.

Ms Scott said the club still needed the loan and it was discussing at a committee level about what its options were.

"We're exploring other avenues of how we might be able go about securing some finance. There's a couple of other options we're discussing internally," she said.

Ms Scott said it was also looking at progressing the discussion with the council and providing assurances to council that might help it overcome its questions.

"They've parked it for now. They won't be progressing it for further discussion until we can address those issues or work with them in terms of trying to find a way around that," she said.

But Ms Scott said the club "definitely" confident it would finish the project.

"Our fundraising efforts have progressed," she said.

"We had a target that we'd hoped to reach by the end of June ... we are well above that target, so that's given us a little bit of breathing space in terms of our cash flow which is really positive and fantastic."

The club would also look to start the public part of its fundraising campaign in spring.

The building features sweeping curves and panorama of glass windows which offers views across the course.

The function space will have a capacity to seat 200 people and the lounge-cafe area another 60. There will also be seating outside on the balcony.

The building will also include a virtual golf studio, which simulates golf indoors on different courses while tracking your swing.

IN OTHER NEWS

Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content:

Have you signed up to The Standard's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in the south-west.