Central Coast Council’s secret Warnervale Airport Development Opportunities Feasibility Study asked “whether the current land use best serves the community as is, or should such a valuable asset be limited to a small sector of the community?”
The study found that a $5,000 income stream from a property worth $12.75 million represents a poor return on investment to Wyong Shire Council, that the airport would be a financial liability until it was developed or disposed, that an upgrade was too expensive, that it had specific constraints, such as weather, that cessation of operations would benefit surrounding properties and that the airport was rated a ten on the evaluation matrix – an industrial estate rates 19.
The Feasibility Study findings of financial liability have been vindicated by a succession of losses on operations at the airport.
A $68,000 loss in 2013/14, $265,000 lost in 2014/15 and $635,000 lost in 2015/16.
Add to this write downs in value of $458,000 over the last two years.
The Study answers the question it was required to answer.
No, the current land use does not best serve the community and such a valuable asset should not be limited to a small sector of the community – no matter how powerful they may be.
Amphibian Aircraft International morphed into the $120, Amphibious Aerospace International in May 2016 as a registered company, however despite the instant inclusion of Aerospace in its new name, AAI is not an aerospace company.
AAI intends refurbishing 60 year old antique Albatross aircraft of which there are only 31 left flying in the world, with 53 in museums.
Central Coast Council spruiked the AAI proposal as a $100 million, 240 job, 18,000 square metre factory on a 2 hectare lease site.
AAI’s development application is for a $2.8 million, 27 job, 2,760 square metre factory occupying the entire 0.68 square metre leased site with no room for expansion.
The AAI reality is only 10 per cent of the proposal spruiked by Council, AAI and ex-Premier Baird.
NIMBY or pragmatic realist, you be the judge.
March 3, 2017
Laurie Eyes, Wyong Creek