Rate rise hike Council extends loan

Kiama Council has secured an extension for the final repayment of the $60 million loan it took out from the NSW Government to construct Blue Haven Bonaira.

The final $15 million payment was originally due in August but after passing a motion in Council chambers, it was agreed that TCorp (NSW Treasury Corporation) will defer the repayment until August 2025.

Council must now advise the Office of Local Government about the renegotiated payment.

Councillor Mark Croxford said the renegotiated deal would take a bit of heat off council in a fiscal sense and would provide an opportunity to help right the wrongs of the past.

“We thought this was going to be a very challenging approach to the situation that we found ourselves in when this Council was sworn in back in January of last year,” Councillor Croxford said.

“It’s only been through the persistence and diligence of not only the mayor and the councillors, but also of the chief executive officer and her leadership team and the support staff that we’ve reached this point.”

Councillor Matt Brown spoke in favour of the renegotiated terms; “I’d like to really thank the hard work the CEO [Jane Stroud] and her team have put into this, giving us a bit more breathing room for this particular loan, and I think this has come at just the right time, so congratulations to all those involved, and I’m very pleased that TCorp has listened to the con- cerns of ouncil and agreed to this extension.”

Councillors Mark Croxford, Warren Steel, Matt Brown, Jodi Keast, Stuart Larkins and Deputy Mayor Imogen Draisma voted in favour of the extension. Mayor Neil Reilly was unable to attend the meeting.

Councillors Karen Renkema-Lang and Kathy Rice voted against the motion after raising concerns around the definition of Blue Haven and whether it included both the Bonaira site and Terralong St locations.

Councillor Lang suggested that, should the vote to approve the new repayment terms fail, it should be deferred until council next meets in July, but it was approved anyway.

by Brendon Foye

Kiama Council has increased its rates by a net of 4.2 per cent for the 2023-24 financial year.

The increase is smaller than the allowable 5.1 per cent rate peg set by the NSW Government, but has been adjusted to 4.2 per cent due to the Additional Special Variation (ASV) Kiama Council was granted for 2022-23.

Rates are determined using the below formula: Land Value x Rate in $ = Amount + Base Amount =

Total Rate Bill

The rate peg is the maximum rate each council can set for the upcoming year, which applies to general income rather than an individual ratepayers’ rates.

The rate peg is determined for each council using an index that measures the average costs faced by NSW councils and a population factor based on population growth.

Kiama Council said in a statement that the rate rise was needed to fund ongoing services, work and activities, which were outlined in its delivery program and operational plan.

Kiama Council also noted that other charges on rates remained the same, including a $25 stormwater levy for residential homes. Waste charges also remain unchanged while Council completes a review of its waste services.

by Brendon Foye

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