Tauranga City Councillors latest plan is to rummage through the property archives to see what land TCC own that can be sold, this in desperation to try and reduce the 'mushrooming debt” that has been going on for most of the last 10 years.
The ratepayer tab sits at over $400 million (add some $300 million, Southern Sewerage Pipeline project (plan was that development/building fees, +SIF's/BIF's would pay for it all. Looking at The Lakes and elsewhere that is not going to happen anytime soon.
The 'Magical Mystery Tour” plan to be public consulted in 2012 is to sell $100m of TCC lands. sale of Route K/Pyes Pa-bypass with total debt now over $70 million is most of that plan.
Route K yearly losses are:- 2009 $2.775m, 2010 $2.515m and 2011 $2.522m, income and costs have increased. The 2012 year will have at least $16m added for the Pyes Pa Bypass and even more losses. Car volumes at $1/each will need to increase by about 400% just to try to breakeven at 30/6/2012. Next TCC will be telling us that NZTA have not noticed that!
In two years the debt has risen by $5.9m to $57.0m (PyesPa @$12.8m still to come), by 30/6/2012 the debt will be $73+m.
A Barnes, Tauranga.
3 comments
Think outside the square
Posted on 11-12-2011 01:53 | By Alex Wills
Why doesn't council consider raising the speed limit on our Toll roads to 120km/h? Sure they would likely have to lobby Government for a rule change allowing an open road speed limit of greater than 100km/h. However the interest and novelty of travelling at the greater speed would likely increase the patronage of these roads significantly. People would also feel they were getting greater value for their toll and may be happier to pay a greater fee as well. Safety would likely be a non-issue as these multi lane roads are well suitable for the speed. The U.K has recently increased its motorway speeds to 130km/h.
LOSSES ABOUND
Posted on 11-12-2011 22:32 | By WARTS N ALL
$6-7M in three years is a shocker, although that pales to nothing really in comparison TCAL $6-7m a year EVERY year.
MOUNTAIN OF DEBT
Posted on 12-12-2011 08:34 | By ANNA KISSED
Looks to be with the debt at $400m odd and then adding: Southern pipeline $350m+, Strand $24m, Museum $30m and I am sure that there are other silly schemes underway also ... we end up at $800m+ debt. Annual interest $60m+, three time now and people are leaving Tauranga already so fewer left to pay more. Not much imagination required to see what is coming next year in the rates bills for sure.
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