The Council will increase its funding commitment to the Northern Aquatic andCommunity Hub by a further $21.84 million in a bid to bring the transformative facility to life and secure vital federal government funding.
For its $10 million application under the federal government's Building Better Regions Fund(BBRF) to be eligible, the project must be fully funded and ready for construction to begin.
The Council's decision to allocate additional funding in its four-year budget – made as a result of an urgent business motion during Tuesday night's meeting – means the long-awaited redevelopment is now on the cusp of reality.
Council's extra commitment – on top of the existing $23 million it has already allocated in its draft four-year budget – is contingent on its application to assign $8.26 million from the Local Roads and Community Infrastructure Fund (LRCIF) being successful.
Subject to that success, the funding breakdown for construction of the $61.6 million facility would be as follows:
City of Greater Geelong $44.84 million
Victorian Government $8.5 million
LRCIF (federal government) $8.26 million
Total $61.6 million
Should the Council's $10 million application to the Building Better Regions Fund then also prove successful, the Council's total commitment would reduce to $34.84 million.
The Council's resolution noted that extra funding would continue to be sought from the state and federal governments.
A seven-day feedback period will seek community comment on the proposed additional Council funding before it is considered for inclusion in the final budget, to be endorsed at the end of June.
Mayor Stephanie Asher said the Council's decision was a momentous move towards delivering a community facility that would provide opportunity, health benefits and social connection.
This is a decision that has the capacity to change lives and outcomes for the people of Geelong's northern suburbs.
It's also a commitment that befits our investment in the coming northern and western growth areas.
We are at a make or break point for the project, and it's time to get on with walking our talk.
