A 93-hectare parcel of land at Melton Entertainment Park, worth $100 million, will be handed over to the state government.
On Tuesday, August 20, Harness Racing Victoria (HRV) chair Adam Kilgour said the surplus land surrounding the facility, not Melton Entertainment Park itself, will be forfeited to the state government.
HRV, who bought the land 20 years ago for $3 million, owed almost $42 million to the state government, who have agreed to wipe the debt in exchange for the land.
On top of that, the government will provide $44 million to HRV to balance their solvency funding.
In 2019, a government policy change meant proceeds from any land sale by a government department or agency had to be returned to consolidated treasury funds.
As a government statutory authority, HRV would not be able to keep any money from a sale of that land.
The state government is considering options for the future use of the vacant site.
Melton MP Steve McGhie said any money made from a future sale of the land should be reinvested back into the area.
“I will be seeking that any sell off will be to Melton’s benefit,” he said.
The land is zoned as special use zone – schedule 7 by Melton council.
Council said any other use of the land that is not specific to the Melton Harness Racing Centre will mean it will need to be rezoned and go through a town planning application process.
In a joint statement released on August 16, the presidents of Victorian Harness Racing leading bodies said the loss of this land was catastrophic for not just the sport but workers.
“HRV has put the… the livelihoods of around 5000 industry workers in grave jeopardy,” they said.
“In so doing, HRV has also undermined the $670 million economic contribution provided by our industry to the state.”
As a hospitality facility, Melton Entertainment Park still operates many events and occasions, including live shows, sports bar nights, and a kids zone.
