Gold Coast Mayor Tom Tate is giving his council a pat on the back after they agreed to a funding model for the city’s new Cultural Precinct, that won’t affect rate payers.
The mayor has confirmed Stage One will be built without additional fees, borrowings or charges to residents.
The $125 million bill will be paid through property sales, budget savings and the redirection of funds.
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The big ticket item is the sale of the Bruce Bishop carpark and Surfers Paradise Transit Centre in the heart of Surfers Paradise.
The mayor hailed the decision as an historic milestone for the Gold Coast.
“We have secured the funding model for our city’s cultural heartland without hitting ratepayers’ hip pockets,” he said.