The City of Adelaide 2024-25 Business Plan and Budget has been endorsed by Council.
In a first for a South Australian Council, a special rate will be introduced for short stay accommodation properties to provide a fairer system for all commercial accommodation operators.
Under the new plan, if a property is available for short stay accommodation for 90 days or more in a year, thereby limiting its ability to be used for traditional longer-term residential rental, it will be deemed commercial short stay accommodation and rated as non-residential.
This initiative is part of a range of measures designed to ensure the city’s residents, students, visitors, workers and businesses thrive. To achieve all of this and perform necessary budget repair, a general rate increase of 5.9 per cent has been confirmed.
The Business Plan and Budget will:
- Invest more than $110 million into our capital works program, including more than$56 million for asset renewal for the $2 billion plus owned Council assets (including roads, footpaths, parks and buildings
- Commit 1.5 per cent of our rate income to upgrading community Park Lands buildings, ensuring sporting and recreation groups have the facilities they need now and for the future
- Implement the Mainstreet Revitalisation Program starting upgrades in Hindley Street and using community input to design upgrades for Gouger, O’Connell and Hutt Streets
- Stimulate growth in the city’s economy through major investments such as the $400 million Market Square project and the Council-led mixed-use development at 218-232 Flinders Street
- Focus on core community services including investing $22.9 million on Park Lands and open space maintenance, $8.3 million on road renewals, $5.4 million into libraries and $5.8 million on waste management
- Lead Adelaide into a climate resilient future with $3.5 million spent on implementing initiatives from our Integrated Climate Strategy, including planting new street trees
The Lord Mayor said revitalising and improving our main streets, combating the effects of climate change through increased greenery and undertaking urgent infrastructure upgrades are the focus of this Council’s second Budget.
“The centrepiece of the 2024/25 Business Plan & Budget is a $112 million capital works program, allowing us to deliver important upgrades to Hindley, Hutt, and Gouger streets, a new Experience Adelaide Centre for tourists, and urgent asset renewals.
“This Budget proposes spending almost $7 million towards strategic initiatives including the Adaptive Reuse Housing Project, Integrated Climate Strategy and City Activation.
“In addition, we’re setting aside 1.5 per cent of our rates revenue to upgrade sports clubrooms across our Park Lands, ensuring the community has adequate facilities.
“We are committed to making a significant investment in improving the look and feel of the city, and this Budget will help deliver this.”
