General News
3 September, 2024
Funding brought forward to kick start Prior’s Creek precinct
FUTURE funding for the Prior’s Creek redevelopment will be brought forward by Tablelands Regional Council to allow contractors to get on with making the project a reality.
Council awarded a $2.49 million contract to Northern Civil Earthworks Pty Ltd in November last year as Portion A of the contract and agreed to award Portion B, worth $6.15 million at a later date with council’s approval.
Portion B of the contract involves creating a new “urban plaza” at the end of Vernon Street; the creation of a new amphitheatre and stage; streetscape improvement measures along Vernon Street and Jack Street; improved parking; the creation of a new “Prior’s Creek Promenade” (a shared pedestrian and cycle walkway along the old railway track alignment), landscaping improvements; parkland infrastructure including shelters, BBQ, seating, public amenities, and power facilities; the relocation of the existing mountain bike shelter and fitness equipment; and the installation of two new toilet blocks and the demolition of the Vernon Street toilet block.
At its recent meeting, council was asked to award Portion B for a total of $5.169 million to the contractor now, which means it will have to bring forward the $2.5 million allocated in the 2025-26 financial year and find the additional monies required.
While the council has received $3.6 million in state and federal government grants for the project to date, it was unsuccessful in securing an additional $5.8 million in Federal funding.
Cr Kevin Cardew said he initially had concerns about where the additional money needed to award Portion B was going to come from, noting that he would never support borrowing for the project.
“When I saw this report come up asking for future funding to be brought forward, I was concerned about how we’re going to fund this because we missed out on the federal grant funding of $5 and a bit million and now we’re being asked to bring this future funding allocation from council forward to bridge that gap,” he said.
“I know we’re between a rock and a hard place to some degree – we have some high-level interest in those freehold lots down there from investors and those investors are wanting some security from council to ensure that if they are going to invest in Prior’s Creek in the several millions of dollars, they need some form of security from council that we’re going to do our bit.”
“So, the question remained, how are we going to fund it? Where is that future money going to come from? There had been some suggestion we might have to borrow money for it which I am 100% totally against.”
He said a solution had been forthcoming in the days before the meeting, and that was to use developer contributions.
“I’m happy that council is not spending over our overall commitment of $7.5 million, there is grant funding of $3.2 million and developers contributions would be in the order of $3.5 million which leaves a shortfall of $261,000 which could be funded from council,” he said.
“But where is the $261,000 going to come from? I’m assuming it will come from savings from other projects.”
CEO Gary Rinehart said the next Budget review would provide that information.
Mayor Rod Marti also confirmed at the meeting that council would not borrow money for the Prior’s Creek redevelopment.
“We absolutely need to get this done – I don’t believe we are between a rock and hard place – this is our project, we allocated the money for it, we’ve got significant grants, we have serious interest in the freehold lots which is fantastic, we just need to get on with it,” he said.
“From council’s point of view, it’s our flagship project – it will completely transform the town, we just need to get on with it.”
Cr Annette Haydon said she was concerned that other projects throughout TRC appeared to have stalled while Prior’s Creek was steaming ahead.
“My biggest gripe is that projects that have been on council’s radar for over three years haven’t had one sod of earth turned over yet council is hell bent on this project,” she said.
“I have reservations about more funding (going to Prior’s Creek project) while other parts of the community get forgotten. I only hope the love gets spread a bit more evenly across the
region.”
