It's quite a copycat act, wanting to raise $56 million (just like the Uniting Church) by selling off land and buildings. Who wants to buy an old obsolete, horror of a gaol? Osborne House, now that is a lovely building, at present used for art/craft/historical exhibitions, etc. and an asset to the community. Golf courses too such as Elco, Balyang and Queens Park - all excellent facilities for golfers and not as expensive as privately run clubs.. Not good.
CITY Hall may have to sell off assets such as Old Geelong Gaol and Osborne House to maintain its financial sustainability, an independent review into city finances has found.
The review sought independent advice to see how effectively the City of Greater Geelong was operating.
The review, by CT Management Group, identified potential one-off asset sales of between $27 million and $56 million.
Sites mentioned in discussions have also included all three golf courses owned by the city - Elcho Park near Lara and Queens Park and the Balyang par-3 course, both of which are in Newtown.
The review also said the council faced challenges to deliver its capital works program and services and "if the current expenditure requirement is to be maintained, either the rate revenue will need to increase or operating and capital expenditure will need to decrease to maintain its current sustainable position".
It added "the current investment in services and capital is not sustainable".
Residents could also face rate rises, with the report saying a 2 per cent rise would be required to meet the current costs of services and capital investment.
Acting Mayor Bruce Harwood stressed that no decision on any sale of assets had been made, and pointed out the review found the city was financially sound. etc. etc.