THE Shire of Busselton has approached LandCorp to take over the problem-plagued Port Geographe development north of Busselton.
THE Shire of Busselton has approached LandCorp to take over the problem-plagued Port Geographe development north of Busselton.
The stalled, ocean-side project has been dogged by the build-up of noxious seagrass and sediment on beaches in nearby Wonnerup and inaction by the joint-venture partners behind the project, Axiom Properties, Luke Saraceni’s Saracen Properties and Macquarie Bank.
No work has been undertaken on the residential subdivision for the past two years, but Saracen Properties’ Luke Saraceni said he would welcome some sort of joint venture with LandCorp.
Axiom has a 40 per cent interest in the Port Geographe Joint Venture with its 60 per cent partner, MacSea, which is a 50-50 joint venture between Saracen Properties and Macquarie Bank.
The shire’s bid to have LandCorp take control of Port Geographe follows the release of a sediment report detailing modifications necessary to stop the build-up of seagrass.
It’s understood these alterations, which include structural changes to the groynes at Port Geographe, could cost as much as $40 million.
The report was undertaken by the University of Western Australia and funded by the Department of Transport and the Shire of Busselton.
Busselton Shire chief executive Mike Archer said the shire was not in a position to fund the works but it would be making a formal submission to the state government once detailed costing was completed.
Mr Archer said the shire wanted certainty for Port Geographe.
“We have become proactive as a council and we think LandCorp should take equity in the project and get a return on their investment,” he said.
“LandCorp is part of the inter-agency steering committee set up to address issues associated with the Port Geographe development.
“And LandCorp’s involvement at this stage is one of providing advice to government of potential development strategies.”
Local residents have been fighting for more than a decade to get some action on the seagrass accumulation, and the Port Geographe Action Group warned inaction could result in the marina becoming choked with seagrass.
Committee member Peter Maccora said the council had used bond money lodged by the Port Geographe developer to pay to clear the seagrass but the funds were nearly depleted.
“Depending on the severity of the winter, if we have anything like the previous years there won’t be enough in the bond money to fund the work,” Mr Maccora said.
“And there is a high potential the marina could fill up with weed.”
Mr Maccora said it was the state government that initially signed-off on the design of Port Geographe and, in his opinion it fell to it to fund the changes set out in UWA’s report.
LandCorp directed questions about Port Geographe to the Department of Transport.
A spokeswoman from the department said discussions were continuing with all parties.
