Showing posts with label #Investments. Show all posts
Showing posts with label #Investments. Show all posts

Thursday, 1 November 2018

$25m of Investment for Port Stephens

BY CATHERINE ALLEN

Port Stephens Council will invest $25.2 million in major projects across the local area in 2018-2019 with the aim of improving facilities in the community.

Mayor Ryan Palmer says it's an exciting time for Port Stephens with roads, drainage, libraries, parks and sporting facilities set to benefit from the investment. 

"This year we are investing more than $25 million in projects for Port Stephens, from much-needed upgrades to roads and drains, to new paths, playgrounds and much more," Mayor Palmer said.

The funding is set to come from multiple sources including a price hike for ratepayers. Around $8 million will come from rates, fees, and charges.

The rest will come from other revenue sources such as $5.6 million in grants, and a combined $11.6m coming from Newcastle Airport dividends, developer contributions, property investments, and donations.

"This council has been proactive in seeking alternative funding sources to pay for the works, but there's only so much we can do without asking ratepayers for more funding to increase our investment," Mayor Palmer said.

"Our community has been asking for better roads, more pathways, revitalised town centres, more recreation facilities, and increased services - and that's exactly what we will deliver". he said.


Tuesday, 6 March 2018

Catholic church criticised for $38 million in property spending

BY MARISSA ALEXIOU

The Catholic Church has come under scrutiny for its recent spending on properties across the Hunter.

$38 million dollars has been spent in the last five years, with the church planning to develop affordable housing, a childcare centre, a high-school and other community facilities.

Analysis of Australian Property Monitors data has shown the church purchasing properties in Newcastle West, Gillieston Heights, Charlestown, Cessnock and Mount Hutton.

The criticism for the spending follows the finding the church misled the Royal Commission into Child Sex Abuse by undervaluing its property holdings across New South Wales and Victoria.

The church has been criticised for its lack of transparency regarding its wealth, claiming it would have to cut social programs to fund compensation payouts for sexual abuse survivors.

Greens MP David Shoebridge said $38 million dollars within a five year period is a significant expansion across the region.

"It comes at a time when the Diocese is saying it doesn't have the funds and it may not have the funds in the future to fairly compensate the survivors and children who they so seriously failed," he said.

David Shoebridge additionally criticised the church's government funding and lack of disclosure on where state and federal money was being spent.

"If any organisation is putting their hand up for that sort of public money and doing it on a tax-free basis, then they have an obligation to be much more transparent," he said.

David Shoebridge said it is unlikely the Maitland-Newcastle Diocese is the only Catholic diocese rapidly expanding.

"We've seen the church say what it normally does, that the public doesn't have the full information and that there is further financial transactions the public, state and federal government are unaware of and that comes back to the basic issue of transparency," he said.

2NURFM News contacted the Maitland-Newcastle Diocese for comment. They did not wish to comment any further than statements given to the Newcastle Herald.

"If the church is really going to convince the people of the Hunter it doesn't have the money to pay the survivors of child sexual abuse, then it needs to be 100% transparent," David Shoebridge said.