Brisbane, Queensland – A capacity crowd of automotive enthusiasts, local business people and fans met to hear Lakeside Motor Racing Enthusiasts proposal to the Pine Rivers Shire Council and the Queensland State Government that a trust be formed to manage Lakeside's future and bring about the return of club-level motor racing to the heritage listed circuit.

The supporters' breakfast was well attended by half the Pine Rivers Shire Council, including Mayor Yvonne Chapman and the State Member for Kurwongbah, Linda Lavarach.

While the Councillors were not able to comment on the proposal at the meeting due to the pending legal case against the heritage listing of Lakeside, the plan was clearly well received and the Mayor offered to make arrangements for another meeting with LMRE in two weeks.

Similarly, Ms. Lavarach couldn't be specific, but did say that it was up to the Council to take the next step and her "door was open", but did warn that any undertaking of this nature would be "a lot of hard work".

President of the Pine Rivers Central Chamber of Commerce, Mrs. Gayle Dallaston was very positive towards the idea and spoke of local members who said the closure of Lakeside had badly damaged their businesses.

Even as a self confessed non-motorsporting person, she was critical of the Council's appeal against the heritage listing of Lakeside. Mrs. Dallaston said that the closure of the circuit was damaging the community's image and went further to point out that the Pine Rivers ratepayers were going to be funding both the Shire's appeal and the State's defence and the money would be better spent re-opening Lakeside.

LMRE president, Ian Milton said,

"We're very pleased with the positive reaction from the Council and local business people, but I have to say, that we've been overwhelmed by the support from the motorsport community. The Trust concept delivers a win for everyone and there's no reason why it couldn't be successful."

Brain child of LMRE member and barrister-at-law, Chris Robertson explained how a trust works. 

"Essentially, a trust is the placing of property or money, or both, under the control of a particular person or persons, often but not necessarily with defined guidelines, for the benefit of another person or persons."

 

"We are floating the concept of a trust, but a trust created under a statute - an act of parliament. Why? Because, a statute will provide strict guidelines under which the trust and the trustees must operate and it will also allow land to be held in perpetuity."

An LMRE spokesman summarized the benefits a trust will provide as follows:

1. A Trust will allow the owners to transfer the financial responsibility of the facility without a strategic loss of control. 
2. A Trust management board will be comprised of representatives from all the major stakeholders, including the primary facility users, Pine Rivers Shire Council and the State Government.
3. A Trust can help protect the owners from frivolous complaints and insurance claims made against the facility. 
4. A Trust can then lease the management rights to a professional third party to operate the facility on a day-to-day basis. 
5. A Trust will qualify the owners for either pre-approval or exemption from some of its heritage listing responsibilities.

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