Sunday 27 December 2015

A Gift From City Council

Much has been written on these pages about the long term neglect of QVM funding but there is some good news.

An annual return to council of some $5m makes the Queen Victoria Market one of the most profitable markets in the world. But years of taking without giving have been severely criticised as the market succumbs to retail pressures just like most retail entities across the globe.

The QVM Renewal could involve expenditure up to $250m and that is great news but the long careful process of managing the largest project ever conducted by the City Council will result in a significant time lag before funds become available.

At its meeting on 15th December 2015, City Council resolved that QVM would not have to make its December licence fee payment to Council. Funds of almost $400,000 will be made available for modest short-term management initiatives to improve the volume, amenity, safety and viability of the market, whilst also contributing to a higher than budgeted QVM net profit for the 2015-16 financial year.

This is certainly welcome news for QVM and a recognition of funding necessities. Just where that money will be spent is not clear but maybe an emergency generator for the fresh food halls would be on the list? What would be on your list?