The Holdfast Bay Draft Long-Term Financial Plan 2024-2034 has a proposal to borrow an additional $30 million for an upgrade of Jetty Road Glenelg. This will increase the overall debt to approximately $60 million.
This proposal lacks risk management and exposes ratepayers to the largest financial risk the Council has made, $60 million. The new borrowings will be spent on a small proportion of the area of the City of Holdfast Bay.
The public consultation period is 3 weeks and is limited to a Council survey to some 1000 residents and feedback on the Council’s website. Due to the scale of borrowings the Holdfast Bay Residents Association believes a long-term financial plan should be a standalone consultation across the Council area involving all ratepayers.
Answer this simple survey to let us know if you support our campaign to stop this madness.
Read the draft plan and provide your feedback on the City of Holdfast Bay website.
Download our 5049 Coastal Community submission here.
Download the Holdfast Bay Residents Association full statement here.
Check out the campaign flyer here.