AT the end of another bumper May race week, the federal government is timing its run like a Darren Weir galloper.
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The money is a critical piece in the puzzle of retaining a tertiary education provider if Deakin University exits the city as vice chancellor Jane Den Hollander foreshadowed.
Deakin has made it clear the Sherwood Park campus is no longer viable. It says enrolments have fallen from 1067 in 2011 to 627 this year despite saying it has made efforts to halt the slide.
Ballarat-based Federation University has been talking with Deakin about a potential takeover but money and the key marine biology course has been a sticking point.
Federation University rightly needs financial incentives to take on the campus. It will need to invest heavily in increasing courses and then marketing them in a bid to lift student numbers.
The federal government’s announcement of the $14 million, which is assured, and not part of a re-election bid, removes one hurdle in any potential deal.
It is a significant carrot for any potential newcomer.
Both Deakin and Federation universities’ councils met during the week where negotiations were reportedly discussed. Neither will comment.
Both must be pleased the government is prepared to play a role.
The south-west community has made it clear it wants a university campus in Warrnambool.
It has also sent the message it would welcome Federation University with open arms.
The $14 million can only reinforce that sentiment.
But a deal is far from done.
It’s understood Federation University wants $40 million to take on the campus, about $15 million to cover staff entitlements and about $25 million to fund courses and marketing.
We now need Deakin to repay the support the community gave it for 25 years by dipping into its reserves of more than $600 million.
The odds are Deakin will do the right thing.
But, like any punter will atest after three days of racing, there are no certainties.
