Wednesday, 11 April 2012

Parramatta. Borrowing $10 million

Parramatta City Council has secured a 3.2-hectare site on Victoria Road, Rydalmere, to house its operational centre. The new development will be fully funded from the sale of existing properties that are at the end of their economic life, and primarily located in an incompatible residential precinct. A short-term borrowing of $10 million for up to 12 months will be required to allow the project to proceed Appropriate staff located in the Parramatta CBD will be relocated. A tender will be conducted in 2012.



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