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.

Parramatta. Council plans to acquire properties

Parramatta City Council has budgeted $4,020,000, in its draft management plan 2009/10, for the acquisition of “high-priority properties for the purposes of pedestrian and vehicular connection” in the CBD. Council will also facilitate the creation of key sites for business and the community in the CBD, such as, managing long-term redevelopment options for Riverbank (a block including the former David Jones site) and the Horwood Place block