Council considered a report outlining possible funding and timing options for the delivery of the at its April meeting.
Following Council’s in-principle support of the Willis Street Precinct Plan concept at its February meeting, in April, Council considered a summary of a range of funding options including from the capital budget, borrowings, land sales, grant funding, Open Space contributions and a leasing model.
We are still in the exploratory phases of planning this significant community infrastructure project and no decisions have been made regarding funding.
Further investigation of funding options is now underway, with a particular emphasis on quarantining budget surpluses, exploring public private partnerships including long-term leasing/sale opportunities, using some of the restricted funds from the Open Space levy (as permitted), and any available grant funding.
Council will next consider this project at its July meeting, which will explore opportunities to use the land at 6a Willis Street for passive open space.
