A business case on a brand new cruise ship terminal that would be prepared by the Gold Coast council following a unanimous vote that was passed yesterday, is about to be prepared.
Councillors have spent over an hour discussing a study on the proposed cruise ship terminal.
Various models have put the cost between $170 and $450 million. A resolution that was made by the committee also states that the proposed terminal has a cost benefit ratio of a 3 and 3.9. The council would start offering an initial advice statement to the state government.
The statement is expected to take about a month to be prepared and would advise the state government about the project.
It is a pre-curser to an environment impact study. It is believed that it would take nearly 18 months for the study to be completed. Once it is completed the government would make a decision whether the project can go ahead.
The proposed cruise ship terminal of Gold Coast would cost between $170 and $450 million, as per Mayor Tom Tate.
Cr Tate revealed the costs prior to the Economic Development and Major Projects Committee who met last afternoon. The most important thing Gold Coasters should consider is that the funding would not be achieved from the pockets of ratepayers. In fact, it would come from private enterprise.
This model shows that Gold Coast is geared up to benefit with the revenue from the cruise ship terminal industry.
Cr Tate said that the return on investment would be more than three times the initial cost of constructing the cruise ship terminal. However, the mayor is yet to state which version of the terminal he is supporting.
The proposed cost is a major jump from the last few estimates that were as low as $50 million.
