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Asset Sale Program to be discussed at Council Meeting on 27 July

By Central Coast Council
Posted: 22 Jul 2021
Credit: Central Coast Council
Council will consider the community consultation findings and the next stage of its Asset Sales Program (Tranche 3) at the Ordinary Meeting on Tuesday 27 July.

Community consultation on the proposed properties for sale ran from 30 April to 28 May attracting 1,333 submissions and 611 direct emails and letters from the public.

Council Director Corporate Affairs and Chief Financial Officer, Natalia Cowley said the consultation was invaluable in helping to understand in a short timeframe localised issues, stakeholder interests and likely impacts should some parcels of land proceed to sale.

"Thank you to everyone who has submitted feedback and contributed to this discussion. Staff have thoroughly reviewed the community feedback on each individual property and have made recommendations in the Council report about each of these Tranche 3 properties," Mrs Cowley said.

The Council report recommends the sale of 19 sites, identifies one site that requires further investigation, and 19 sites to be removed from consideration completely.

A full list of the properties is published in the Council Meeting Agenda now available on Council's website. The consultation report and map with details on the proposed sale status for each site are also published on Council's online engagement platform here

Council Administrator, Rik Hart said that balancing community and stakeholder interest with financial imperative was going to be difficult when it came to the decision about these property sales.

"I understand staff are recommending that some properties with high levels of community concern be removed from sale all together, such as the Homeless Youth Refuge and Cubbyhouse site at Rumbalara, the Umina Mall car park, and the two sites at Blackwall. Other properties are being recommended to progress to the next stage such as reclassification or sales with specific conditions attached to them.

"For the operational classified properties that are recommended for sale, I need to be able to assure the community of the benefit of this in the long run. Any sale will not be for less than the market value as determined by an independent valuation.

"Property sales were identified as one of the key measures in contributing towards Council's success in obtaining the $100million loan and the proceeds of all sales will go towards repaying some of the $200million unlawfully used restricted reserves. Notwithstanding this, Council's long-term financial sustainability still remains in peril.

"In three years' time we potentially will be facing an annual income loss of $25million as determined by IPART and this means some of the service reductions our community is vocalising now will worsen.

"Without maintaining the recently set rating levels beyond the current 3 year horizon, Council may yet again find itself in a dire financial situation."

Council will consult with the community about the next special variation of rates submission to the Independent Pricing and Regulatory Tribunal (IPART) later in the year.

Council's Ordinary Meeting of 27 July 2021 will commence at 6.30pm and will be conducted online. For more information, search ' Council Meetings' at centralcoast.nsw.gov.au

 
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