Council has been successful with an application to IPART for a permanent Special Rate Variation (Infrastructure Levy) to help fund the gap in infrastructure funding for Roads, Footpaths, Stormwater and Facilities (Community Buildings).
The Infrastructure Levy will commence 1 July 2011. The additional funds collected via this levy will fund $10M of the $22.9M identified funding gap over the first 10 years. It will be utilised in conjunction with existing reserves and budgets and S94 Development Contributions to meet the infrastructure challenge.
The levy must be utilised specifically for infrastructure renewal projects. It will replace the current ‘Stormwater Management Charge’ of $25 per property, hence the levy represents an additional cost to ratepayers of approximately 6%.
Council has developed works plans for the use of the funds, which are regularly updated to allow progress to be tracked