THE City of Greater Geelong says it needs to lift rates above the rate cap to lower debt levels and fund vital infrastructure in growth areas.
\nThe city has formally applied to the Essential Services Commission (ESC) to exceed the state government\u2019s new 2.5 per cent cap and set the rate increase for 2016\/17 at 3.5 per cent, which would raise an extra $1.6 million in revenue.
\nGreater Geelong mayor Darryn Lyons said the draft 2016\/17 budget was created with a 2.5 per cent cap in mind and achieved a \u201cwafer-thin surplus\u201d.
\nIf the application is successful, the extra revenue will reduce proposed new loan borrowings to $22.7 loan balance of $93.3 million.
\nThe council\u2019s application to the ESC notes that not reducing debt could affect the council\u2019s ability Clifton Springs sports precinct.
\nStrategy and performance general manager Dean Frost said Geelong, as a growth municipality, suffered from \u201cthe double-whammy effect\u201d of having to renew infrastructure in existing suburbs as well as support new developments.
\nThe council is waiting on the outcome of a Commission of Inquiry into the City of Greater Geelong \u2013 one media report says the commission Cr Lyons said it was \u201cbusiness as usual\u201d in the meantime and he wanted to complete his term as mayor.
\nThe commission\u2019s report is now being considered by the state government and is not expected to be \u201cI can\u2019t comment on a report I haven\u2019t seen,\u201d Cr Lyons said.
\n\u201cI\u2019m proud to sit here today in front of Geelong\u2019s leading media to say I campaigned on vison, passion and change and I\u2019ve delivered on vision, passion and change throughout the City of Greater Geelong.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
THE City of Greater Geelong says it needs to lift rates above the rate cap to lower debt levels and fund vital infrastructure in growth areas. The city has formally applied to the Essential Services Commission (ESC) to exceed the state government\u2019s new 2.5 per cent cap and set the rate increase for 2016\/17 at […]<\/p>\n