The Coburg Initiative- next steps
Media release, Tuesday 30 August 2011, The Coburg Initiative - next steps
Mayor Oscar Yildiz
Moreland Council this week concluded its Strategic Partnering Agreement with Coburg 2020 master plan development partner, Equiset Services, as it could not reach an acceptable financial agreement that would deliver the aspiration outcomes captured through the extensive consultation process.
Mayor Oscar Yildiz said Equiset's partnership with Council over the past two years had provided valuable project development expertise and leaves us well placed for the next steps.
"Equiset assisted Council to get TCI beyond a planning scheme process and assisted us to put together a deliverable program for this much-loved activity centre precinct in the form of the 'Colours of Coburg Place Framework' that we can take to government and the community," Cr Yildiz said.
"It has given us confidence that this project has the right ingredients to be a great success. However we need to ensure we can deliver it using a financial model that does not present a financial risk for the current and future communities."
Council needs to take time now and carefully consider its next steps which will include further discussion with the community about the project and some additional work on the financial model.
"Council thanks Lorenz Grollo, particularly, for his hard work and close relationship with Council's TCI team over these recent years. Equiset can now add a major Melbourne urban renewal master plan to its project credits. This master plan has been a critical step in developing the project and ensures that Council is well placed to deliver it," Mayor Yildiz added.
"The Coburg Initiative identifies $1.5 billion in spending and potential urban renewal developments, including 6,000 new homes and apartments, 15,000 new local jobs and a myriad of new business opportunities.
"We are in it for the long run and Council is confident that Coburg's 'smart city' approach and sound investment plan will be able to kick start urban renewal in Melbourne's inner north."
