RECORD infrastructure investment is at the heart of a balanced and responsible City of Hobart budget for the 2022-2023 financial year.
The record $72 million includes a $34.5 million commitment to asset renewal projects, $10 million of which will be committed to road renewal projects.
“This is a responsible and balanced budget to build city-shaping infrastructure, but also to boost our creative city and events calendar,” Hobart Lord Mayor Anna Reynolds said. “We’re building momentum to create a better connected, more dynamic city that delivers initiatives to make the Hobart Community Vision come to life.”
Budget allocations also include an investment of 3.7 million in city safety and cleaning, and $2.2 million in events, festivals and activations.
“Alongside our Annual Plan, this budget is designed to deliver a city for all people, and improve what matters to residents, businesses, and visitors,” Lord Mayor Reynolds said.
With a modest increase in rates of only 2.27 per cent, the City of Hobart budget seeks to alleviate additional cost-of-living pressures on ratepayers, and provides a surplus of $0.53 million.
“The opportunity we have right now is to support innovation and prioritise opportunities to shape a prosperous, sustainable, and liveable city,” Finance and Government Committee Chair Alderman Marti Zucco said. “We’re creating a Hobart that is better for the now and is future-ready.”
The full budget estimates will soon be available on the City of Hobart website.