Flagstaff Hill has been a hot topic in the Warrnambool City Council election race.
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The Standard gave candidates the opportunity to share their views on what should be done with the maritime village.
Many believe it should still operate as a village, but have other attractions added.
Vicki Jellie said something needed to change.
"Flagstaff Hill should not continue to operate as it has been, with its drop in visitors (even prior to COVID-19) the financial loss is too great," she said.
"There is no doubt that the loyal staff and volunteers have been committed to Flagstaff Hill and the hours of voluntary work by the community has a long-standing connection which will be hard to break, so clear community consultation is paramount."
Lynn Hudson said it would be a great spot to host festivals and other events.
"It's no secret Flagstaff Hill generates a large financial loss annually equivalent to the hard earned rates paid by well over 350 households down the financial drain," she said.
"I also understand it holds a soft spot in the hearts of locals although few locals visit.
"I would like to see the area opened up with larger for profit festivals whether they be music, wine and local produce, live theatre, weddings or writers' festivals.
"The very large level grassed area behind the Lighthouse Lodge seems wastefully under utilised.
"That area alone would be sensational for events."
Sue Cassidy said entry to Flagstaff Hill should be free.
"Flagstaff needs changes to survive," she said.
"Firstly, a quick easy suggestion is to open it for free."
Richard Ziegeler said he supported Otha Akoch's idea to make it a research centre for indigenous history for the region.
"It has been successful as a true museum in the past. Maritime history is important because it details European settlement but also our Indigenous history is so much older and because of that, richer."
Andrew Squires said he believed there needed to be improved access to the village. "I would also like to see the expansion of Flagstaff Hill with the inclusion of the local history of the Warrnambool township."
Ben Blain said he believed no decision should be made without proper community consultation.
"There needs to be change with how Flagstaff Hill is operating but what that will look like should come from the community."
Debbie Arnott and Angie Paspaliaris agreed with this.
"Input from stakeholders and community consultation needs to be undertaken," Ms Arnott said.
Jacinta Anderson suggested it be used for a totally different purpose.
"Maybe we could use Flagstall Hill as a refugee processing centre - it's not nice to keep people locked up for six years or more just because they are fleeing a war torn country."
Peter Sycopoulis said the village had been bleeding money for too long.
"The site is on Crown land and in need of a major re-structure. I have no issue with the site retaining its historical village status but it will likely require private investment such as accommodation and shopping/business in order for it to be viable."
Bruce Campbell said something needed to be done to reduce the costs associated with Flagstaff Hill.
Matt Walsh said a total revamp was needed. "Whoever is elected will need to quickly develop a short and long term strategy to turn the situation around," he said.
Jim Burke agreed with the need for a revamp. "But beware those with ready made solutions," he said. "I too have a few ideas about how it might look or operate into the future, but I am not about to impose my views on the outcome."
Kylie Gaston wants to "reopen Flaggy and bring back the pub".
"The Steam Packet Inn is actually a fully licensed hotel, just imagine a new local on warm summer nights including a hotel and tearooms," she said.
Steve Moore said it should continue to operate as a maritime museum but offer more to visitors.
"We need to see it being proactively marketed for multiple uses. It is currently not interactive enough and the entry price does not represent value for money," he said.
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