Kiama Council has negotiated an extension to the final repayment of the $60 million loan from the NSW Government for the construction of Blue Haven Bonaira.
Council now has until August 2025 to repay the remaining $15 million to TCORP, the NSW Treasury Corporation.
The extension enables Council to maintain appropriate cash reserves to continue to operate its business, providing confidence to our external regulators, auditors and most importantly our staff and our community.
Council has so far made the following repayments towards the TCORP loan:
- March 2020 – $15 million
- April 2023 – $15 million
- June 2023 – $15 million
Council will now advise the Office of Local Government (OLG) of the renegotiated loan repayment.
This will also be included in the annual Proposed Borrowings Return to the OLG due next month.
Read the full report: Council meeting papers – 29 June 2023
