REJOICE: Council rates to shrink as 10-year SRV ends
IN NEWS that will delight ratepayers across the Coffs Harbour LGA, a Special Rate Variation has come to an end.
Coffs Harbour City Council introduced the SRV in 2010 following the devastating floods the year before and used the money to leverage state and federal government grants for key flood mitigation works.
The money raised by the 4.4 per cent rate increase primarily went toward the four flood detention basins in West Coffs Harbour, which will lessen the impact of flooding in the Coffs Creek basin, at an overall cost of more than $10 million.
By the end of the decade, the SRV was generating $1.7 million annually and Council general manager Steve McGrath said the results were over and above expectations.
"The success rate achieved in winning grants meant that more was achieved via the SRV than originally anticipated," he said.
"In addition to the detention basins, the SRV also made close to $4m worth of drainage improvements possible."
"These include $1.25m for stormwater augmentation works at Fiddaman Road in Emerald and $850,000 for drainage works for the Newports Creek catchment, centred at the Stadium Drive Sports Hub."