The outcomes of the IPART final report on Local Government Revenue Raising Framework and Council’s Financial Strategy in 2009, as well as preliminary work associated with the asset and financial sustainability review in 2010, promotes the identification of alternate revenue sources to augment/offset traditional funding sources of local government – such as rates. The combination of land development, lease, sale or property/development contributions are emerging sources of ‘other revenues’ for local government.
The purpose of this strategy is to promote opportunities and identify actions to sell, develop, lease or partner with other parties to realise one-off or perpetual financial or community returns, as an alternate to using general rate revenues.
Councillor workshops associated with land and property holdings and the draft CLEP have identified parcels of council land and infrastructure that may be capable of sale, leverage or perpetual returns to varying degrees, and potential sites to retain or acquire for strategic purposes.
The Asset and Financial Sustainability Review report prepared by Professor Percy Allan and his consortia of consultants recommended Council ‘exploit commercial opportunities (e.g. leasing property, joint ventures, PPPs); and sell surplus or low priority assets (e.g. land, buildings).
Councillors also noted the scale of unformed crown or paper roads in the Shire, that are unlikely to service developable land, or indeed may be better placed within a development and privately owned or constructed.
The Land Investment Strategy and Policy outlines an approach to explore those opportunities. It promotes the establishment of property registers, adoption of policy, and utilisation of specialist advice to identify best use and return options for council land holdings.
Read it here: Land Investment Strategy, September 2011