Harbour trust businesses get $14m financial lifeline for COVID-19
Businesses on harbour trust land have been handed a financial lifeline, with a $14m package to help support them through the economic fallout caused by COVID-19.
Manly
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A $14m relief package has been unlocked to help the Sydney Harbour Federation Trust following the devastating impact of COVID-19.
Minister for the Environment Sussan Ley announced today she had released the funds to help the trust, which manages former defence sites on Sydney Harbour at Manly, Mosman and other areas including Cockatoo Island.
The money will provide short term rent relief for commercial and residential tenants and to address other revenue shortfalls.
“This will provide a much-needed cash injection for the trust at a difficult time, as it deals with COVID-19 impact on its revenue,” Minister Ley said.
“There is a variety of small businesses ranging from restaurants to coffee shops, function centres and small business enterprises, as well as private tenants within the portfolio, and there are continuing trust operational costs.
“By releasing commonwealth money that is within the trust accounts we are able to ensure immediate financial relief for the organisation.
“The move is separate from the independent review which will identify the best ways of ensuring the long-term preservation of the sites for public access.”
One of those business owners Miles Blackwell of Milestone Events, a boutique wedding venue at North Head, said it had been a challenging time and the financial support would be a lifeline.
“Being a small family run business, we deeply feel the emotional impact that our clients have felt in having to delay their weddings and other events and we want to make sure we can provide them with a venue and service when we are on the other side of this,” Mr Blackwell said.
“This support allows us to be in a position to open our doors once again when we are through these challenging times. It is wonderful to see a light at the end of the tunnel.”
Mary Darwell, Executive Director of the Harbour Trust said the businesses at their sites make them wonderful places to visit.
“By providing relief during this difficult period, they can plan their future with certainty and thrive once COVID-19 restrictions are lifted,” she said.
Zali Steggall, independent for Manly, also welcomed the funding and said she had been pushing for financial help for local businesses operating on trust land.
“When the affected businesses contacted me in March, I was immediately concerned about their financial distress and made approaches to the trust on their behalf,” she said.
“I welcome the funding and look forward to seeing the detail of how it will be allocated.
“I look forward to seeing the outcome of the Harbour Trust Review, as there is widespread community concern about the future of the Trust and the properties, particularly here within Warringah.”
Member for North Sydney Trent Zimmerman said the funding was an important step for businesses that contribute to the vibrancy of the Sydney Harbour.
“Many of the Trust sites are home to thriving small business communities which have been adversely affected by the coronavirus crisis and this funding will assist them maintain their important place on our harbour foreshores,” he said.