Further funds to upgrade ageing assets

The share of funding allocated towards renewing Council’s extensive asset base will be progressively increased over the next decade.

The commitment to raise the level of investment in maintaining ageing infrastructure is a key feature of Council’s new Asset Plan 2022-2032.

Council last night adopted the Asset Plan, which sets out how the diverse asset base will be managed and maintained.

There are specific plans for key infrastructure classes, considering factors such as maintenance, renewal, acquisition, expansion, upgrade, disposal, and decommissioning.

Greater Geelong Mayor Peter Murrihy;

Council has made a strategic decision to place more emphasis on improving the condition of ageing assets across the community.

New facilities and infrastructure will remain vital to support sustainable population growth in the regio.

However, we will have a stronger focus on renewing assets in established areas so that they can continue to meet the community’s needs.

This will help provide equal access to the places, spaces and services that our residents deserve and expect, regardless of where they live.

The draft plan had been released in April for community consultation.

Public feedback, which included six submissions and saw three people attend an in-person session, was supportive of the plan.

No content changes were made to the Asset Plan before it was adopted by Council.

Finance portfolio chair, Councillor Anthony Aitken;

Council is committed to closing the renewal gap.

The plan gives us a better understanding of the state of our assets, and the future opportunities, costs and risks that come with them.

This enables us to make strategic, evidence-based decisions with an eye to the long term, to ensure we can sustain our assets and minimise the burden on future generations.

The City of Greater Geelong is responsible for hundreds of thousands of individual assets, with a total value of $3.1 billion.

This includes civil infrastructure – such as roads, kerb and channel, bridges, drainage and footpaths – worth $2.2 billion, and social infrastructure, such as buildings, open spaces, arts and culture and recreation facilities, worth $956 million.

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