PLANS for the future development of Queensland Raceway and the wider motorsport precinct at Willowbank have been placed on hold following a review by Ipswich City Council.
Recently elected mayor Andrew Antoniolli promised improved transparency and a review of all council-owned companies including Ipswich Motorsport Park Pty Ltd (IMP).
He said while council resolved last year to proceed with buying back some leases including Queensland Raceway, it became clear this could not proceed without a protracted and expensive legal process.
"Council established IMP with the sound aim of taking the precinct forward to become an internationally recognised commercially sustainable headquarters for motorsports and large events.
"Our view that this is possible has not changed, however we need any transition to be transparent.
"IMP has ceased all activities which were underway and the company will be wound up as soon as possible.
"This is a common sense approach while the future of council's involvement and any investment in the precinct is under review.
"Council has repealed its earlier decisions relating to the Queensland Raceway lease and will not proceed any further lease resumptions," Cr Antoniolli said.
Deputy Mayor and City Management, Finance and Community Engagement Committee chairman Cr Wayne Wendt said all other initiatives of IMP had been placed on hold while elements of the current agreements could be assessed.
"This also includes the previous calls for Expressions of Interest to seek suitable operators to manage and operate a drive training facility.
"Unfortunately the proposed off-road motorcycle racing facility for Motorcycling Queensland will not proceed at this stage.
"However this decision by council does not diminish our on-going support for the current operators based at the motorsport precinct or our support for fans of motorsport," Cr Wendt said.