Billion-Dollar Pledge to Transform Urban Areas
Almost $2.7 billion has been earmarked by the City of Sydney to increase open space and invest in community infrastructure, urban transformation and new facilities over the next 10 years.
Big ticket items factored in its budget include the development of Town Hall Square, waiving fees for outdoor dining and community groups booking venues, and boosting cleansing services across the city.
Lord Mayor of Sydney, Clover Moore AO said the City of Sydney was pulling all levers to meet the needs of its communities and improve the lives of the 1.25 million people who live, work and visit the city every day.
“Everything we do reflects our commitment to a more sustainable, inclusive and resilient city,” the Lord Mayor said.
“On behalf of Sydney businesses and residents, the City maintains a strong financial position with a responsible and sustainable operating and capital budget of more than $900 million for the coming financial year.
“Our budget includes a program of capital works that will help us fulfil the demands of our changing
and growing city centre and villages.
“In the next 4 years, we will progress plans – three decades in the making – to create a civic plaza
opposite Sydney Town Hall. This will be the next stage in the transformation of central Sydney and
an extension of our improvement works on George Street.
“Over the long term, we’ll continue to work closely with residents, businesses and government partners on shaping a city that thrives.”
The draft 2025/2026 budget and long-term financial plan were last night endorsed by Council and approved for public feedback for 28 days until 5pm on 9 June.
In the next financial year alone, the City of Sydney will spend more than $631 million to operate and maintain venues, parks and public spaces, as well as numerous programs and services:
A capital works budget of more than $276 million will be allocated to more than 400 projects over the next year:
More than $29 million will be invested in grants and in-kind support including:
A cultural and creative budget of more than $38 million will be allocated for major events including Sydney Christmas, New Year’s Eve, Sydney Lunar Festival and the Sydney Streets festival series.
“Despite the pandemic and recovery challenges over the last 5 years, the City of Sydney has maintained a healthy financial position,” the Lord Mayor said.
“Through careful, strategic financial planning, we are confident of completing major works such as Town Hall Square while maintaining high service levels, continuing to invest in community facilities and our comprehensive grants program, and, importantly, ensuring rates are kept low now and into the future.”
Long term, the City of Sydney is investing in major multi-million dollar projects that represent Council’s and the community’s aspirations including:
Following public comment, the budget will be considered by Council for final adoption on 23 June.