Council proceeds with business levy

Gosford Council has decided to impose a 15-year rates levy on Peninsula business properties.

It will implement "option three", the highest of three levies proposed.

The levy will be rated at 0.00576659 cents in the dollar on land value and will raise around $796,000 a year.

The levy will cost businesses an average of $2084 in Ettalong, $1801 in Woy Woy and $1487 in Umina.

More than a third of the money raised ($286,000 a year) will be spent on street cleaning and $159,000 will be spent on "operation" and "asset maintenance".

A sum of $60,000 will be spent on a business development officer and a further $10,000 will be spent on advertising.

Just over one third ($281,000) will be spent on repaying a loan at 7.1 per cent interest for capital works. The works will cost just under $3 million.

The council was told a public meeting was held by Gosford Council and supported by the Peninsula Chamber of Commerce on November 17.

The public meeting, held at the Umina Beach Bowling Club, was attended by 26 local business people.

Council staff who attended the public meeting outlined to local businesses three business rate options to allow local business owners the choice to select an appropriate rate.

Council staff explained the financial impact on an annual and weekly basis of each option for local businesses.

It was also noted that council would endeavour to apply for grants to supplement the money generated through a levy.

A poll of those present found 15 in favour of a special business rate, six not in favour and five undecided.

A majority of those in attendance opted for "option three".

Council's Finance Manager will now prepare a submission to the Minister for Local Government to levy the rate on Peninsula commercial premises commencing next year.

Council agenda CD.31, December 7