Member for Davidson, Jonathan O’Dea said the NSW Government will provide more than $471,000 to Ku-ring-gai Council for the St Ives Indoor Sports Centre from its Low Cost Loans Initiative (LCLI).
“Funding for the right infrastructure in the right place at the right time will ensure a better quality of life for our current and future residents,” Mr O’Dea said.
The third round of the Low Cost Loans Initiative will see 13 councils, including Ku-ring-gai Council, reimbursed for half of their interest costs on loans. That initiative is unlocking more than $300 million in infrastructure works to support new housing developments, including roads, sporting facilities and open space.
Minister for Planning and Public Spaces, Rob Stokes said the funding for new and upgraded infrastructure was the result of good strategic planning and the investment of developer contributions.
“We are using the Special Infrastructure Contributions (SIC), Voluntary Planning Agreement (VPA) and Low Cost Loans (LCL) programs to invest more than a quarter of a billion dollars into new roads, schools, public spaces and emergency and community facilities.
“This infrastructure funds bonanza is in addition to Government’s recent adoption of all 29 recommendations from the NSW Productivity Commission review into the developer contributions system which will further supercharge infrastructure delivery” Mr Stokes said.
The SIC and VPA programs levy financial contributions from new development and provide the funding to councils and state agencies to help deliver infrastructure including roads, regional open space and social infrastructure and facilities.
This funding follows an earlier State Government Grant of $3.5 million to Ku-ring-gai Council for the St Ives Indoor Sports Centre from the Greater Sydney Sports Facility Fund. The NSW Education Department recently delivered two initial indoor basketball courts, with Council to fund another two courts, as well as related facilities and services.
For more information on the Government’s Infrastructure Funding Programs visit:
https://www.planning.nsw.gov.au/Plans-for-your-area/Infrastructure-funding
