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03 October, 2022 | 01:25 AM

NSW motorway sale funds council projects

NSW motorway sale funds council projects
A southwest Sydney council is the first to benefit from the NSW government's $5 billion community investment fund created by the sale of an uncompleted tolled motorway. Premier Dominic Perrottet says the allocated funds will be good for local communities, and the benefits will justify the government's past decisions. "This is why asset recycling works," Mr Perrottet told reporters on Monday. Labor opposes "asset recycling", both the practice and the term, preferring "privatisation", which Opposition Leader Chris Minns has said he will end if his party wins government in March. He blames privatisation for the government's lack of control over energy prices and road tolls, amid rising cost of living. Mr Perrottet did not reveal any further asset recycling plans but did not rule it out. "The point I'm making very clearly is when you categorically rule out an approach that has unlocked capital, that has invested dividends right across out state, that's the wrong way of looking at things," he said. WestInvest includes $3 billion for government agencies delivering "transformational projects", $400 million providing up to $35 million in funding for 15 western Sydney councils, and $1.6 billion in grants for local community groups, which councils can also apply for. It was funded through the $20.4 billion sale of WestConnex, which the NSW government spent about $15.3 billion building, with $1.5 billion contributed by the commonwealth. "A road that was opposed by Labor, a transaction that was opposed by Labor, and now these investments which naturally are opposed by Labor because they don't have the means to fund them," Mr Perrottet said. Canterbury-Bankstown will be the first council to benefit from the scheme, with $24 million allocated for four projects. The money will go towards creating an arts and culture precinct including community spaces and a new library at Campsie, the Roberts Park Community Hub facility at the former Greenacre YMCA, and decommissioning Villawood's Wran Leisure Centre for open space, multipurpose courts and playgrounds. Another $4 million will go towards pedestrian infrastructure and traffic management devices. WestInvest money comes on top of existing funds but contributes at least half the total funding for each program. Mr Perrottet says western Sydney is the heart and soul of the state. It will also be an important battleground in the March election. "What you'll see over the coming weeks, right across western Sydney, the northwest, the west, the southwest, is announcements which will make a real difference so that western Sydney is the best place to live, work, and play," Mr Perrottet said. Treasurer Matt Kean says other projects are still being assessed by the WestInvest steering committee. "(We have) put in place the toughest guidelines as recommended following a number of reviews ... to ensure the community can have confidence in the governance that this money is going exactly where it's intended to go," he said. Sign up for our emails