City of Greater Bendigo council will make the three-year loan to the privately owned skating rink in Golden Square on the condition it meets requirements to upgrade and maintain the facility, meet a financial plan, increases its level of volunteerism and continues with a council representation in its management team.

The rink closed in December and meetings were held last month to discuss the Bendigo Ice Skating Association’s solvency.

But last night the City of Greater Bendigo council unanimously voted to support the rescue package, which will help to cover the $82,000 debt the centre owes the landlord and the YMCA and $9702 expected in upgrade costs to improve the rink’s safety, performance and efficiency.

The news also comes after the not-for-profit i2i Teaming Institute submitted a proposal in January to council to incorporate Bendigo, the only Victorian rink outside Melbourne, in an improved nationwide ice sports network.

The Golden Square rink’s new financial plan maintains the centre will increase revenue in the next financial year through increased marketing and patronage.

Cr Rod Fyffe, who is a BISA committee member, said the rink was a valuable community asset the council needed to keep alive while the BASA had met the council’s stringent parameters.

“Unfortunately it has closed and this is a way of going forward that has been tried and proven in the past,” Cr Fyffe said.

“We need to keep this open, it’s a point of interest and differentiation for Bendigo, we have some very good skaters in Bendigo and opportunities for our children.’’

He said the BISA had succeeded in repaying all past loans to council.

Cr Julie Rivendell said the council's due diligence in investigating the rink's financial problems had been rigorous and the Discovery Centre showed how a valuable asset with support and revised management could turn itself around from financial stress within years.