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Karamu and Omahu road corridor development
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Total rate increase forecast at 6.4%
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Completion of 7 year investment in rural bridge strengthening to accommodate longer and heavier vehicles
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Total rate increase forecast at 5.7%
2024
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Central mall upgrade scheduled.
2025
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Further critical renewals at Wastewater Treatment Plant scheduled.
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Rating Area One rate increases reduce to average of 3.0-3.5%
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Brookvale/Havelock Hills residential growth areas commence
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Forecast date of current landfill capacity – prior year’s development of additional capacity at Valley B & C completed.
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Lyndhurst extension residential growth area commences
Financial Strategy 2023
The Highlights Set out below is a high level view of some of the key milestones within the financial strategy over the next 10 years.
2021
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2022
Council completes $82m investment in safe drinking water – water targeted rate increases in 3 year step change to fund the work programme. The Water Reserve account will stay in deficit for some years. Significant escalation in transportation renewals commences to address ageing infrastructure. Rural rate increases set at circa 7% for a number of years to fund the renewal spike.
2026
2027
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Critical renewals at the Wastewater Treatment Plant commence along with the ongoing renewal of the three trunk mains.
•
Funding stream for climate change response commences
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The Water Reserve account is back to a sustainable level
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Some capacity for City Centre vibrancy and parks and public space improvements included in budget under the “Finishing Touches” package.
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Rating Area Two rate increases reduce to 5% annually.
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Iona/Middle, and Howard Street residential growth areas scheduled to commence.
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Debt peaks at $291m
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Forecast debt falls to $264m
Planning for additional landfill capacity underway.
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Parking capacity investment in Hastings and Havelock North funded through increased metered parking charges and increase in Havelock North parking targeted rate.
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Treasury Policy amended to create extra debt capacity
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TOTAL RATE REQUIREMENT INCREASE 6.9%
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Civic Square upgrade scheduled
2031
LONG TERM PLAN 2021-2031 HASTINGS DISTRICT COUNCIL // 133
