Victoria Park will be the location for the Koroit Men's Shed.
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Secretary of the Koroit Men's she group Noel Button said the exact location of the shed at Victoria Park and its size were still being negotiated.
"We have entered into a 99-year lease agreement with the Koroit Agricultural Society to build the shed on their land at Victoria Park," Mr Button said.
"We still have to work out where that will be and what size."
Mr Button said the men's shed group is working closely with the Moyne Shire Council to ensure all local government requirements are met.
The Koroit Lions Club has also shown active support for the men's shed concept.
A men's shed for Koroit has been discussed for a number of years.
Early talks surrounding such a project had identified a shed at the old Koroit Hospital site as a favoured location.
But Moyne Health Services has since closed that site to the public as it assesses the future of the main building.
The current Koroit Men's Shed group was formed in November 2019 and has grown to 21 members.
The group, which is registered with the Australian Men's Shed Association, is keen to add to its membership.
Of particular interest is the aim to recruit members with experience in construction and planning to help facilitate the building of the Koroit shed.
Both state and federal government funding sources are available for men's shed groups to access.
In Moyne, men's sheds have proven to be valuable community assets.
The Port Fairy Men's Shed has been in operation since 2010 and is located at the Port Fairy showgrounds. This shed has also diversified and is home to a weekly women's craft group.
Men's sheds are also operational in Macarthur and Crossley.
There are more than 1000 men's sheds in Australia