Holdfast Bay Council to hit ratepayers with 7.1 per cent rate rise to fund Jetty Rd project

The beachside Adelaide council has published its draft budget, with a major increase in rates to help fund a mega $40m redevelopment.

Holdfast Bay Council has unveiled its draft 2024-25 budget, with ratepayers forced to cough up an extra average $126 to help fund a mega $40m redevelopment of Jetty Rd.

Council has also allocated $8.92m for maintenance and repairs in areas near public amenities including beach access points, showers, barbecues, playgrounds and picnic furniture.

Mayor Amanda Wilson said rates would rise by 7.1 per cent rate, which includes 4.8 per cent in CPI to fund the “full range of council services” and a 2.3 per cent increase for the Jetty Rd transformation.

“To cement ourselves as a must-visit location, we have made a commitment to deliver one of the biggest projects our council has ever undertaken – the multistage, $40m transformation of Jetty Rd, Glenelg,” Ms Wilson said.

Jetty Rd, Glenelg. Picture: City of Holdfast Bay

“This 2.3 per cent (increase) equates to an increase of $41 for the average household next year, and we anticipate an increase at this similar level for two further years for the Transforming Jetty Rd project, which will be completed by the end of 2027.”

She said council had “exhausted all other funding options” for the project.

“This needed investment will result in a great return for our residents and boosted economic prosperity for the City of Holdfast Bay.”

In addition to the Jetty Rd redevelopment, council will also undertake several major projects including a $1m stormwater infrastructure upgrade, $500,000 irrigation upgrade at Patawalonga and a $40,000 investment into sport and recreation infrastructure planning.

In 2024-25, council will raise $45.2m in rate revenue as it aims to achieve an operation ratio of 0-10 per cent over the next five years.

Documents reveal the rise in rate revenue would yield an operating surplus ratio of 1.7 per cent, compared with 3.7 per cent over the past five years.

Artist impressions of the $40m Jetty Rd redevelopment at Glenelg. Picture: Supplied

Defending the Jetty Rd redevelopment hit to ratepayers’ pockets, Ms Wilson said the $40m project wasn’t “just an investment into Glenelg”.

“It’s an investment into the future economic growth and prosperity of the entire Holdfast Bay area and will have far reaching benefits for the city, from the boundaries at Glenelg North to Kingston Park and everywhere in between,” Ms Wilson said.

“Over the next three years, we will transform the 1km stretch of Jetty Rd into a modern, five-star, vibrant, safe and accessible world-class destination.

“Our commitment to the transformation of Jetty Rd at Glenelg will allow us to keep up with the growth that is taking place around the state while also ensuring Glenelg – and by extension Holdfast Bay – remains relevant and front of mind as Adelaide’s best coastal shopping, dining, entertainment and tourism precinct.”

Originally published as Holdfast Bay Council to hit ratepayers with 7.1 per cent rate rise to fund Jetty Rd project