THE City of Perth has allocated $32.9 million for capital works projects in its 2005-06 budget.
Of this, $5.4 million will be directed to Stage Two of the Point Fraser project, $3.2 million to the development of a new public square in Northbridge on the corner of Lake and James Street, and $3.1 million will be spent on renovation of city malls.
A sum of $1.2 million has been allocated for streetscape enhancements in Northbridge.
Lord Mayor Dr Peter Natrass said the city was in a sound financial position and had not budgeted for any new borrowings in 2005-06.
“For the first time, the City of Perth’s operating revenue is expected to exceed $100 million,” Dr Natrass said.
“The city derives a large portion of its revenue from rates and the council has determined that in 2005-06 the increase in income generated, overall, from differential rates should be contained to 2.5 per cent, in line with inflation.”
