LESS than $1 million would be needed to buy the water required to bring Lake Wendouree back to its former glory.
Lake Wendouree holds a capacity of 3500 megalitres. And according to Victorian water broker, Water Trading Australia, the current trading price for water is $140 per megalitre.
That adds up to $500,000, plus extra for the transmission fee from Central Highlands Water for the use of its infrastructure.
That's less than the project to harvest stormwater from the Redan Wetlands and send it by pipeline to Lake Wendouree.
And under projects already in place to refill the lake, like stormwater harvesting, the city icon may not be full until 2014.
It is understood by The Courier that the City of Ballarat had been quoted $350 per megalitre during past inquiries about filling the lake.
Officers from the city and members of the Committee for Ballarat had participated in an analysis of a full Lake Wendouree versus a dry lake several years ago.
Committee for Ballarat CEO Doug Lloyd said at the time the analysis was carried out, the option of refilling the lake in one hit was not viable.
"It wasn't a smart option, because Ballarat was on heavy restrictions at the time and people couldn't even water their gardens. But the environment has changed markedly with the easing of restrictions,'' Mr Lloyd said.
"Now, the committee thinks that this would be a good business case. It should be easy to do with collaboration between the City of Ballarat and Central Highlands Water.
"The committee recommends this business case be looked at now that the political sensitivity has died down. With the easing of water restrictions there should be no political or emotional impediment.
"Lake Wendouree is an icon for the city and for the region. To have it full is more valuable than to have it empty.''
Ballarat City councillor, Craig Fletcher, who holds the growth and development portfolio, said he would welcome a debate on the merits of buying water to refill the lake.
However, he said a one-off quick-fix may not be a long-term solution for the lake.
"$500,000 to buy water is still $500,000, a sizeable amount of money to spend,'' Cr Fletcher said.
"My fellow councillors and I have not discussed this option and there would be a whole range of issues to talk about, including where the money would be coming from, the social aspects and where the water would be coming
from."
One answer could be the City of Ballarat applying for water under the Central Highlands pilot water transmission project.
The project was established to assist local government authorities, community groups and commercial customers whose assets and business have been adversely affected by the drought and subsequent water restrictions.
The project allows limited transmission of water bought on the temporary water market to be delivered via Central Highlands Water infrastructure.
Central Highlands Water communications and marketing manager Wendy Stubbs said Ballarat City Council had not made an application through the pilot program.
Another important step to refilling Lake Wendouree was the start of the $1 million project to harvest stormwater from the Redan Wetlands.
This project will also assist in the ongoing irrigation of three sporting grounds in the region - Morshead Park, Trekardo Park and Western Oval, aiding sporting clubs and local residents who use the parks.
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