Central Coast Council’s $2.2M cash splash on Gosford waterfront revitalisation plans

Central Coast Council’s administrator wants to tip an eye-watering amount of ratepayer’s money into keeping plans to revitalise Gosford waterfront afloat. See what it means for you.

Central Coast Council Administrator Rik Hart is expected to rubber stamp moves to tip more than $2.2 million into technical studies to keep revitalisation plans for Gosford waterfront trickling along.

The administrator is expected to endorse a recommendation to Tuesday night’s meeting to allocate $2,218,000 to the waterfront project from funds squirrelled away from the sale of Kibbleplex.

In September Mr Hart resolved to adopt a preferred waterfront plan — which included the Central Coast Stadium precinct — seek community feedback and pursue state government funding to progress the proposal to a business case worthy of serious government financial backing.

A report to council’s meeting on Tuesday, February 28, states the community feedback through “independent market research” was overwhelmingly favourable, along with “a large amount of support” for the revitalisation of Gosford waterfront on social media.

However, despite council’s best efforts it has not been able to secure the estimated $8.5 million of investment required to progress the plans to a business case.

Central Coast Council's latest plans to revitalise Gosford waterfront. Picture: supplied

So in order to keep the momentum going Mr Hart is expected to endorse tipping in an extra $2.2 million from council’s Land Development Reserve.

The reserve was created through the sale of the defunct Kibbleplex shopping centre to the Lederer Group in 2016 for $13 million.

Council sold the former Kibbleplex shopping centre, which was used for a long time as a glorified car park to the Lederer Group for $13 million in 2016. Picture: Richard Noone

“A series of technical studies are required to progress the business case for the project and inform the detailed masterplan,” the report to council states.

“These studies include biodiversity geotechnical and hydrological studies to understand site constraints, detailed land and bathymetry survey, flooding and coastal hazard analysis, transport investigations, and updates to the architectural design to reflect community feedback.”

The proposal recommends council allocate $316,856 to the waterfront project this financial year with the remaining $1.9 million allocated in council’s 2023-24 budget.

The report states if council is successful in securing the full $8.5 million to progress the plan to a business case the funds would be paid back into the Land Development Reserve.

With an election only weeks away, Labor has already indicated it would back the waterfront plans to the tune of $8.5 million to get them business case ready.

There has been no such commitment from the incumbent Liberal government.