The approximately $2-million project would create a 117-metre-long stable complex with walk-through stalls, as well as a community hub for events and fund-raisers.

Speaking at the venue on Tuesday, Member for Polwarth Richard Riordan said, if elected, the Coalition would contribute $1.1 million to the project.

A huge community fund-raising effort has already been under way, with the club’s owners, trainers and supporters group raising more than $300,000. 

Harness Racing Victoria has also backed the revamp with $275,000 and Corangamite Shire has contributed $50,000 for the community hub.

Terang Harness Racing Club president Evan Savage said the tendering process was under way with demolition of the old stalls expected in March before work on the estimated three-month-build begins in April. 

“It’s been a long haul, four or five years in the planning and we’ve had a great fund-raising group… they’ve done a magnificent job,” he said.

“It’s going to be a great thing for Terang Harness Racing Club because people are going to want to bring their horses now in the middle of winter. 

“It will allow us to have a better quality of meeting. For us, it might mean that we get an extra five to 10 horses here and that might be the difference between a race falling over and a race not falling over as far as numbers go.

“We have a great partnership with the community and the new Silks Room project will just be fantastic for them, they can walk in and have a fund-raising night, whether it be a parents’ group for a school or whether it be for the hospital or anything that’s charitable.”

The development will also play an important role during emergencies like the St Patrick’s Day fires, offering a place of refuge for people and their animals.

Mr Riordan congratulated the club on all the work that had been done so far.

“You’ve demonstrated a really strong commitment not just to racing but to the whole Terang area,” he said.