Colac Otway Shire Council has welcomed a Federal Coalition election commitment of almost $1 million to revitalise Colac’s CBD.
The announcement was made by Federal Minister for Regional Development Fiona Nash and Member for Corangamite Sarah Henderson in Colac today (20 May 2016).
Colac Otway Shire Mayor and G21 Board Member Cr Frank Buchanan said the funding would enable Council to deliver stage one and two of the CBD and Entrances Project.
The project is supported by G21 through its Economic Development Pillar.
“This is fantastic news for Colac and would see the revitalisation of Murray Street between Corangamite and Queen streets,” Cr Buchanan said.
“This project is one of Council’s main election priorities and will deliver enormous economic benefits for our shire by encouraging more people to stop and shop in the CBD, and help to improve the attractiveness of Colac as a place to live.
“We now call on the ALP’s Libby Coker and the other election candidates to match or better this funding commitment.”
“This project is shovel ready, and thanks to a previous grant from the State Government as well as funding from Council, we would be able to complete the full scope of works which includes significant upgrades to the CBD entrance at the corner of Queen and Murray streets.
“An independent economic analysis has shown that for every dollar invested in this project, it will return to the local economy $3.22 – which for stage one and two of the project equals more than $6 million.
“This is huge and shows the significance of this project – it’s a game changer for Colac.
“We look forward to hearing from the other candidates about this critically important project.”
Source: A Colac Otway Shire media release