$245 million to kickstart CBD

COVID-19 is continuing to wreak havoc across the world but the City of Perth staff have proposed a $245 million-dollar plan to kickstart the CBD in response to the pandemic including the seven key areas listed below:

• $25.3 million to allow two-way traffic on Murray and Hay streets.

• $23 million for the City of Perth SafeCity project which will add more lighting around the CBD to create a safer night environment for pedestrians.

• $61.2 million for combined works on the Perth Convention Centre, Wellington Square, Roe Street and the East End which would also be actioned over the next two years.

• $2 million to refurbish the City of Perth’s offices in 2021-2022.

• A financial plan to help with the reduced income from City parking which is down over 30% from the COVID-19 pandemic response.

• The City also anticipates it will spend another $36 million on other projects in the next three years to help with the rebound.

• With parking revenue set for big losses due to the COVID-19 hit, $45 million will be borrowed by the City and its cash reserves dipped into to meet the shortfall.

This content is extracted from the article ‘Capital gain is the new plan’ by Peter De Kruijff | The West Australian | Wednesday 24^th June 2020.