Skaife more or less alluded to the fact on Inside Supercars that any proposed race in Newy won't be around the waterfront which is problematic on many levels.
It seems Newy gets a street circuit in the interim (away from the cbd) until 'Circuit Italia' 10km north of Raymond Terrace is completed. This was the former Ringwood Park Hillclimb. The new name apparently comes from the road it's situated on Italia Rd.
http://www.theherald.com.au/story/40...ject-gears-up/
Local radio in the Hunter was saying the morning this story broke that funding for both Supercars and Circuit Italia was a part deal with Tourism NSW and the State Government. How accurate that was is anyones guess.