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Impression of a redeveloped Parramatta River foreshore. Impression of a redeveloped Parramatta River foreshore. Featured
13 March 2017 Posted by 

FUTURE CITY DEVELOPMENT STALLED

Parramatta's $1B funding gap

PARRAMATTA City has identified $1B worth of infrastructure that is needed if the city is to fulfil its role as Sydney’s Central City.

The Draft Parramatta CBD Infrastructure Needs Analysis is part of a Discussion Paper on Infrastructure Planning and Funding in the Parramatta CBD.

It explores various funding options to ensure the delivery of essential infrastructure as the city grows.

The discussion paper, now on public exhibition, outlines Council’s currently available sources for infrastructure funding. It estimates there will be a funding gap of between $394 to $549 million over the next four decades.

“Council is seeking the community’s feedback on both the discussion paper and the needs. The draft list of infrastructure projects we have identified has been aligned to address the City of Parramatta’s new Statement of Vision and Priorities, which was guided by community consultation,” City of Parramatta Administrator Amanda Chadwick said.

The infrastructure is designed to address key priorities including:

•Managing growth and transport.
•Promoting green spaces and the environment.
•Providing opportunities for recreation and leisure.
•Creating a strong economy with a strong City Centre.
•Having a community focus.
•Supporting arts and culture, celebrations and destinations.

The draft list details large scale projects including: the Parramatta River foreshore renewal; a modernised and expanded performing arts precinc and new public plazas.

It also includes new childcare centres, new sportsgrounds and playgrounds as well as upgrades to existing assets such as bridges and roadways.

The discussion paper explores value sharing as a potential funding option to help address the funding gap and meet the infrastructure demand.

The community and affected stakeholders are encouraged to have their say on the discussion paper, the peer review and the Draft Parramatta CBD Infrastructure Needs Analysis.

Submissions can be made until March 24, 2017 at
http://www.cityofparramatta.nsw.gov.au/about-parramatta/news/on-exhibition

 



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