The figure, among others, was raised during the discussion of the 2021-22 Bathurst Regional Council budget last month.

Cr Jennings again advocated for the need to redirect some of the funds from a $2.25 million loan, which council took out for the construction of a go-kart track, to the old TAFE building.

He cited figures estimated through .id modelling, based on a $5 million expenditure to activate the site.

Noting they were conservative estimates, Cr Jennings said the construction/redevelopment of the site was estimated to create 31 jobs, 14 of which would be outside of the Bathurst region.

"I note a clever council would spend $1 million and induce grants or co-investment of another $4 million, or whatever it takes to get it done," he said.

"The spending of the $5 million in the redevelopment will lead to an additional $2 million spin-off, so the multiplier effect, so that local economy impact is actually $7 million, further $3 million created elsewhere, so a total benefit of $11 million to the Australian economy, of which Bathurst will get the benefit of $7 million.

"That's the one-off redevelopment/construction costs. Not a bad result."

Assuming the project creates jobs in the creative art and retail sector, the benefit to Australia every year is estimated to be $1.37 million.

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"We're put in this situation where we've got these massive question marks, and that $2.5 million loan is creating an opportunity-cost of $1.37 million a year, as well as the total $11 million from the construction bill, so what are we waiting for? Let's get on with it," Cr Jennings said.

Later, councillor Alex Christian said something should be done with the TAFE building, but not at the expense of the go-kart track.

Council is currently working on documentation for an expression of interest (EOI) process, to hopefully generate ideas for the TAFE building from potential investors.

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