At Tuesday night’s Council meeting the CoM resolved to accept a motion from Cr. Mayne setting up funding for the Queen Victoria Market Renewal Project.
Elements of the resolution include –
- A fund would be set up within council to hold funds dedicated to QVM renewal.
- All Council returns from the QVM after 1st July 2014 will be deposited in full into the fund.
- Any annual underlying surplus by Council from the 2013-14 year would be placed in the fund.
- All proceeds from the sale of the development sites on the southern boundary of the market will be deposited into the QVM Renewal fund.
- Commencing from 1st July 2014, all profit proceeds from the sale of any other surplus or redundant CoM land holdings will be deposited into the fund. (Ed - We understand that from time to time the CoM sells small pieces of land around the city)
- Council will examine whether up to $10m of additional seed funding could be provided through a bond issue proposed for early 2014-15.
- The CEO will ask the State Government to deposit any congestion tax receipts (Ed - a car park levy introduced this year) from the QVM into the Renewal fund for the 5 year period from 2014-15.
Have Your Say - click here.
01/05/2014 15:59:44 moolah for market "So does this mean that if they don't sell the land on the south side of the market that the renewal will not go ahead?
Also before the renewal starts the land has to be sold ?
So if thats true, what happens if the promised car park with no less car spaces (including the car spaces that we will lose on Queen st and Franklin st) than we already have doesn't go ahead, are we then behind the 8 ball because the land has already been sold?
These are the questions I want answered before I believe that the underground car park is a good idea "