While not one of the five tenders received by the January 29 deadline met the council's criteria for a financial guarantee, most sought to increase potential revenues by changing the council's plans.

Frankston Mayor Christine Richards last week confirmed council was abandoning its tender process but stressed "the project is still a high priority and a significant development council wants to see completed over the next few years".

The decision came a week after The Mail revealed there would be no quick end to the council's search for a developer of the planned $80 million-$150 million marina, which covers an area larger than Frankston's CBD ('City puts marina tenders on hold', 24/2/10).

While moving away from actively seeking tenders, the council says it will continue to press the State Government for money to stabilise the slope of Olivers Hill and continue talks with indigenous groups to develop a cultural heritage plan for the site.

Dunkley MP Bruce Billson, who once said a re-elected Howard government would contribute $2million towards building the marina seawall, has reiterated his support, but warns it may soon be time "to get on with it or move on to something else".

Mr Billson says a $10 million ceiling should be put on any federal government allocation.

Frankston Beach Association president Frank Hart says the council has wasted $2million of ratepayers' money on "spin and promotion of a flawed marina".

He says surveys to gauge public support were biased and called on council to apologise to ratepayers and abandon the marina.

Cr Richards, who describes the marina as a "long-awaited community dream", told The Mail "everything is on ice", adding that the council did not want to be involved in another major commercial flop.

Her late father, businessman Alan Richards, was instrumental in the drawn-out campaign to save Central Park, which the council was forced to sacrifice to the banks after its ill-fated investment in the Quayside shopping centre.