Mr Fung made this statement in the Cairns Post March 11, 2014:
Yorkeys Knob cash lure.
A COMMUNITY benefit fund bankrolled by Hong Kong billionaire Tony Fung is set to sweeten the family’s multibillion dollar bid for a Yorkeys Knob casino.
While the fund could lead to the construction of a sports stadium near the CBD, Cairns Regional Council Mayor Bob Manning said the contribution would not affect council’s decision when a development application was lodged.
‘‘There is a legal obligation to assess these applications on its merits and that’s what we will do,’’ Cr Manning told The Cairns Post.
Cr Manning met with Mr Fung ‘‘for a couple of hours’’ on Friday night to talk about potential community contributions.
‘‘It was a very constructive and open discussion but it didn’t get into great depths,’’ Cr Manning said.
‘‘Aquis reported on where they were at and brought us up to speed as much as they could.’’
It is understood the developers are in the process of establishing a legal entity which would hold the community benefit funds.
‘‘The council has been mindful of the fact there may be an opportunity at some point where some community benefit would arise out of all of this. That explains why we haven’t done some things around town because this may come into play.’’
Waiting for a possible beneficiary to build a sports stadium or performing arts centre was a business tactic, the mayor said. ‘‘There haven’t been delays. ‘‘We always had in mind that this could come on to the table.
‘‘From the day this (Aquis) started it was always going to be a long and complicated process.’’
Council is not involved in probity checks, Aquis’s Environmental Impact Statement, foreign investment requirements or gaming licence requests.
‘‘We are not a direct player in this until the development application is submitted.
‘‘If this happens, then there will be a direct benefit and direct impact on the council and the community.’’
Are the locals going to fall for something like this NOT LIKELY so why put it forward now and not later after the decision has been made on the approval.
A bad call made at this time.

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