Colac Otway Shire Council will allocate $1.212 million towards a project which will have significant residential, environmental and recreational benefits for the Colac area, if it gains matching Federal Government funding.
The upgrade of the Irrewillipe Road Retarding Basin would unlock land for housing lots in Elliminyt, improve the quality of stormwater entering Lake Colac and provide water for nearby sporting facilities including Colac Racecourse, Colac Golf Club and Elliminyt Recreation Reserve.
Council voted last night to commit funding in the 2021-22 Budget to support a grant application to the Federal Government’s Building Better Regions Fund for the project, and negotiate opportunities for private investment from land developers to support residential development, with Council recouping its expenditure over time.
Colac Otway Shire Mayor Cr Kate Hanson said the upgrade of the Irrewillipe Road Retarding Basin was the highest priority of an Integrated Water Cycle Management Plan developed for Colac in 2014.
“The upgrade of the Irrewillipe Road Retarding Basin will reduce flooding, provide environmentally-sustainable stormwater treatment and enable significant housing development, which Colac desperately needs to reach its growth potential,” Cr Hanson said.
“I’ve been speaking with State and Federal Government representatives about the importance of this project and raising the issue of the current housing shortage which is impacting local businesses and industry who are struggling to get employees.
“The Federal Government’s Building Better Regions Fund is a great opportunity to progress this vital project, and Council will also pursue other opportunities for funding through State Government grant programs.
“In addition to residential development, re-using stormwater to water sporting grounds and improving stormwater quality before it flows into the lake are also extremely important for our community,” Cr Hanson said.
“The upgrade would also provide a model for how future retention basins could be constructed along Deans Creek to enable a significant expansion of urban development along the western side of Colac.”
Council will review funding opportunities if the Building Better Regions Fund application for $1.212 million application to upgrade the Irrewillipe Road Basin is unsuccessful.
