Mulwala Business Park’s last stage of development involving 35 new, sizeable lots, will be completed by the end of June 2018.
It will bring the total of industrial estate lots to 78 on the 27ha site on the northern outskirts of town, bordered by Tocumwal, Savernake and Barooga Roads.
The approximately 20-year-old estate has experienced enormous growth and Federation Council has already received enquiries regarding the remaining 35 new building blocks.
At its latest monthly meeting, on December 19, 2017 Federation Council confirmed its support for the development of the balance of the industrial estate, on the motion of Crs Gail Law and Bronwyn Thomas.
The project cost has increased from the original budget of $2,700,000 in 2016 to $3,740,630 if delivered in 2018.
Council authorised its General Manager to obtain a loan up to the amount of $2,700,000 and will include an interest repayment in future budgets of up to $30,000 per month.
Council is to receive further reports on the new 35-lot subdivision including consideration of tenders for construction.
Federation Council’s Director of Infrastructure and Environment Peter Gall explained for the September-elected council Mulwala Business Park was initially developed as a staged project without detailed consideration of future costs, detailed design and external influences on service provision.
“These issues generally led to the increased cost of the development,” he told councillors.
“Council expects to recoup the cost of the project through land sales. The Federal Government grant requires completion of the project by the end of June, 2018 (to meet the $655,000 government grant).
“Council sees this project as an important opportunity for economic growth throughout the Mulwala/Yarrawonga region.”
Cr Bronwyn Thomas welcomed the unanimous decision by Federation Council. “It’s creating positive outcomes for Mulwala,” she told the Yarrawonga Chronicle.
“It’s creating the opportunity for economic development, especially if we can attract some outside industry.
“It’s exciting to see rural regional towns doing well.”
Cr Andrew Kennedy praised council’s action. “It’s good to see council invest quite substantially and borrow funds to see enhancement and growth of the industrial estate.
“It’s a good thing for future business to see expansion and growth.”
There’s no doubting future interest by business people in the new lots according to Cr Kennedy.
“Federation Council has been approached with a potential of five to 10 blocks getting pre sold,” he said. “They’re good size blocks.”