Consultation opportunity now open to reaffirm support of The Precinct project

The Precinct remains the Council’s highest priority major project. Acknowledging this, the Council has reaffirmed a proposed budget of $20 million for construction of The Precinct within its draft Long Term Financial Plan which covers a period from 2023/24 to 2032/33. The draft Long Term Financial Plan makes allocations for the project in 2023/24 ($1.07 million for detailed design), and then $20 million for construction in 2024/25 and 2025/26.

This draft plan is currently out for public consultation, and we encourage our community to provide feedback on this plan. To find out more and make a submission visit www.yoursay.victor.sa.gov.au/ltfp-amp-2023.

We understand that there is frustration within the community around the speed at which this project has progressed. However, this will be the single most significant piece of infrastructure that the Council is to deliver, and it is important that the appropriate due diligence is undertaken to ensure we are delivering the best outcomes for the whole community.

In addition to the comprehensive engagements undertaken with stakeholders and the wider community, we have completed several significant investigations and analyses to support the progression of the project and put it in the best position to be successful. This has included further concept design options, needs analysis, economic analysis, financial modelling and revised costings.

External funding is going to be critical to ensure The Precinct is sustainable and financially viable. It is intended that at least $10 million of the total budget is secured from external sources. Council is currently working through a number of elements to put the project in the best position to secure external funding. We are aiming to submit an application to the second round of the Australian Government’s Growing Regions program, whilst continuing to explore other funding opportunities. We have been advised by the Commonwealth that it is expected that round two of the grant program will open in February / March next year.

Council continues to recognise The Precinct as a significant investment for our community and we will continue to investigate all options to bring this project to life in the most cost-effective manner.