City of Sydney to spend $180 million on George Street
The City of Sydney has announced a $180 million redevelopment of the city centre’s light rail in what will be the single largest investment in the area since the 2000 Olympics.
"Everyone knows light rail is the solution to the gridlock in the city. We are putting our money on the table to help make it a reality and so Sydney residents, workers, visitors, businesses and tourists get the maximum benefit," Lord Mayor Clover Moore said.
"As part of the project we believe George Street should be pedestrianised between Bathurst Street and Hunter Street. Light rail is not just about tracks on the road, if done right it really can change how a city feels and works.” Mr Moore added.
The Lord Mayor said the $180 million would be spent on things that include:
- Streetscape works including new widened footpaths and drainage;
- Revitalising laneways;
- Street lighting, signage and landscaping; and
- Traffic management works.
- The $180 million will be set aside in the Council's long term financial plan detailed in the draft 2011 - 2014 Corporate Plan and Budget. The draft Plan and Budget will be discussed at the Council's Committee meeting on Monday and then debated at a full Council meeting on Monday 16 May.
If passed, it will go on public exhibition for a month. It will then come back to Council with a review of the feedback from the public and so Councillors can make a final decision.
The Council has claimed that no borrowing will be required to raise the funds, requiring no increase of rates or the establishment of new taxes.