Holdfast Bay Jetty Road Debt

Campaign Summary

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.

Background

The 5049 Coastal Community Association advocates for urban renewal to generate economic prosperity and community development. However, we do not support the Transforming Jetty Rd Glenelg project (and special levy) under the current funding model. Our position is the same as the Holdfast Bay Resident’s Alliance and we concur with issues they’ve raised in their submission.

Following our deputation at the Council meeting on 14 May we have been advised that the $10 million Federal Grant has conditions that require Council to allocate only $5.5m to deliver the Coastal Zone (Moseley Square) component. Grant conditions also “imply” that Council will undertake the Transition Zone as part of the overall project though.

On the basis of this information 5049 CC would support a staged upgrade of Jetty Road, Glenelg. The first stage would deliver the Coastal Zone only with Council committing the minimum $5.5 million to meet grant conditions and certainly no more than $10 million. The Transition and City zones would only proceed after additional funding had been secured by Council.

Ways to engage

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.

Latest updates