Development supports shared funding of local community infrastructure
More than $10 million will be invested into priority community projects throughout the remainder of this financial year as contributions continue to flow from the city’s development boom.
Council this week adopted the updated the 7.12 Local Infrastructure Contributions Plan, which allows for the collection of development levies across the City and nominates how they will be spent.
Newcastle Lord Mayor Nuatali Nelmes said the updated Contributions Plan will allow the City of Newcastle to invest development contributions back into the community through new and upgraded social infrastructure, which is essential for the health, well-being and economic prosperity of communities and the liveability of our City.
“Newcastle’s unprecedented development boom is not only helping to transform the city on the back of our progressive, future-focussed vision, it’s also contributing to the vital infrastructure needed to support our growing population,” Cr Nelmes said.
“Our population is forecast to increase by 20% to 200,000 residents by 2041, which in turn requires the provision of additional public facilities to meet increasing demand over time.”
Cr Nelmes said the list of projects to be funded had been updated in line with the City’s adopted capital works budget priorities and includes projects such as the next stages of Bathers Way, the delivery of the National Park Plan of Management, local centre upgrades in Stockton, Wallsend and Shortland, and the Throsby Creek shared pathway.
“This Contributions Plan provides an essential mechanism through which we can collect funds from approved developments to provide for new or enhanced community infrastructure such as roads, shared paths and cycleways, parks, playgrounds and many other public places to support our City,” Cr Nelmes said.
“Funding mechanisms such as this support our capital works program, which plays a major role in creating jobs and increasing the economic output of the local area, which has become even more important in the wake of COVID-19.”
City of Newcastle approved 1,171 development applications in 2020with a value of $568 million across the city.