Wollongong council has a severe financial problem. For years they have been accumulating annual deficits - and yet the city infrastructure is in a bad way. Roads are crumbling and need resealing - the footpath programme is way behind schedule and parks and reserves are falling into disrepair.
The council is exceeding the government's rate increase ceiling and intends to implement a horror budget that will see work cutbacks, sharp increases in fees and charges across all areas of revenue.
Maybe that is not necessary. Council has 339 properties that are classed as " Operational Properties ". What that means is that they are vacant land that is available for use should the council decide to build on them - or offer them for sale.
The value of this land is unknown. It has not been officially valued - and should the council proceed to have a registered valuer provide an estimate that would cost $ 678,000 at the fee scale offered by that profession.
At a rough estimate, this council owned land could range in value from $ 67 million to $ 200 million - depending on zoning. Basically, it is " forgotten property " - something that has accumulated over the years. Some of it has been bequeathed by ratepayers to council, some is land left over from earlier projects, some has been forfeited for unpaid rates - and some council has compulsorily acquired for projects that have later been abandoned.
Now would be a good time for this inventory to be closely examined. We are short of building land in this city and if council land is available and not required it would make sense to release it for new homes - which helps council coffers by the proceeds of sale, plus ongoing rates payments.
Some of this land will be zoned industrial. Wollongong is badly needing new industry - and if suitable land can attract manufacturing from other areas it could become part of a council deal to enhance the city - and provide much needed jobs for our young people.
What is unacceptable is for this land to remain a hidden asset squirrelled away by council and kept from public knowledge. The council is crying " poor " - and the ratepayers have a right to know what assets are available to alleviate the money problem !
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