The NSW Government has just handed down the 2024/25 Budget and the overarching take-away is that there will not be an almost half a billion dollar surplus, but in fact, we are placed to deliver a deficit of just over three and a half billion dollars.
Despite the backdrop of a poor economic outlook here in NSW, one positive of the Budget is the focus on housing.
One example is that the NSW Government is providing $200M in funding across the state for the Faster Assessments program, to incentivise councils to meet and exceed their housing targets.
Hopefully, some of this money flows through to Central Coast Council, to assist in providing key infrastructure around the development of the 9,400 new homes we are tasked with building by 2029.
There is uncertainty around the future of the Transport Oriented Development Program.
Whether this changes or not, we should still look at those sites here on the Central Coast (Woy Woy, Gosford, Wyong and Tuggerah) as key areas that can help us meet our housing targets.
Given our Council is still in debt, it is critical that we try and access financial support measures like the Faster Assessments program.
The $200M commitment is not overly generous, but for Central Coast Council, every dollar counts.
Email, Jun 20
Jared Wright, Avoca Beach