Council to profit from Docklands
03 Jun 2010
The City of Melbourne plans to make a $5 million profit out of Docklands next year.
Draft budget figures show that the council expects to pull $16.6 million in rates out of Docklands in 2010/11 as well as $2.33 million in fees and charges.
Along with $446,000 in sales and recoveries, it plans to earn $19.3 million from our precinct but will spend only $13.1 million.
After allowing for corporate overheads such as finance, HR, IT and legal costs, it will pocket $5 million for the year.
Its major costs are wages ($1.6 million), depreciation ($3.8 million) and materials and services ($6.3 million).
Draft council budget papers list about 170 municipal-wide projects on which the council plans to spend $65.6 million next year.
Specific Docklands projects are:
- Docklands lighting maintenance - $250,000
- Lifebuoy cabinets for Docklands waterways - $45,000
- Docklands library - $1,250,000
- Docklands recreation hub - $250,000,
- New pedestrian signage and wayfinding - $210,000
- Docklands waterways working berth - upgrade works - $70,000
- Refurbishment of Docklands Christmas decorations - $90,000
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