THE upgrade of Hastings River Drive and replacement of Stingray Creek Bridge will finally go ahead following a successful bid for funds by the Port Macquarie-Hastings Council from the NSW Government’s Local Infrastructure Renewal Scheme.
Council has received a 4 per cent interest subsidy over 10 years on $18.6 million in loan funding to enable it to deliver these critical projects. Hastings River Drive will be widened and resealed between Gordon and Boundary Street, Port Macquarie thanks to the subsidy on a $10 million loan.
A further $8.6 million loan subsidy in combination with the State Government’s previous grant funding of $6 million will mean the Stingray Creek Bridge replacement project can proceed. Administrator Neil Porter commended the State Government for their vision in assisting councils to address infrastructure backlogs.
“I especially want to thank Local Member for Port Macquarie Leslie Williams and the Minister for Local Government, Don Page for supporting our application,” Mr Porter said.
“This subsidy will allow us to deliver significant infrastructure projects that have been identified as priorities for many years.
Mrs Williams said work on Hastings River Drive was vital to the continued economic development of the area.
“Both projects will also boost road safety in Port Macquarie and the Camden Haven,” Mrs Williams said.
Mr Porter said council is working with Roads and Maritime Services on the design components of the Stingray Creek Bridge.
“This subsidy now means we can commit to borrowing the money required to deliver infrastructure that will have a positive impact on thousands of Camden Haven commuters and businesses,” he said.
Council has until the end of October 2012 to finalise the contract arrangements and project time frames associated with the loans.
“This scheme is a promise kept by the NSW Liberals and Nationals,” Mr Page said.
“It will create jobs, develop and renew infrastructure and improve the quality of life for the people of NSW.
“With the first round of applications complete, there is still $60 million to fund other projects across the state in future rounds of grants.”