The major redevelopment of the Sheraton Mirage planned by new owner, David Marriner, remains on hold as $36 million in government funding assistance appears unlikely.

The Newsport contacted Mr Marriner's office, however he remained tight-lipped when questions were posed on the resort's future upgrade.

"It is up to the Government to decide," Mr Marriner said stating he had no further comments to make "other than ones made from day one."

Pictured: The proposed location of Mr Marriner's 'Arts and Exposition Forum'

In a public presentation in July, Mr Marriner called on the State and Federal Governments to contribute a total of $18 million each over five years to the project.

"If we breach or fail to perform, we lose $10m, we lose all of our land, and the Government retrieves the infrastructure in full," Mr Marriner said.

"Given that the Government commits and steps up to the mark for this region we do one other important thing - we say 'we will spend $40 million of our own money to refurbish this asset'."

Meanwhile, a multi-million dollar refurbishment of the resort's rooms is to take place, beginning in November with completion expected in 2013.

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