Bathurst Regional Council has received notification that Federal Government funding of $12.5 million for the development of a second circuit at Mount Panorama has been withdrawn.

The two grants of $10 million and $2.5 million included requirements for constructing a facility and the money spent by June 2026.

Mayor Robert Taylor said Council had sought to re-purpose the funds for the growth and development of current facilities at Mount Panorama.

“Unfortunately, we were advised this didn’t align with the intent of the original grant funding,” he said.

“The project is on hold for now, but Council strongly supports development of the second circuit and will continue to work with both the Federal and State Governments and other stakeholders to make it happen.”

Council has also received $5 million and $10 million in funding commitments from the State Government.

The $5 million grant was used to fund the design and documentation that were prepared as part of the development application process.

A report on the matter will be presented to Council at the meeting on June 21.