the construction of a tramline along the Adelaide Bridge<\/a> \u2013 a project the council has previously asked the state government to fund.<\/p>\nWorks are also planned for Rundle UPark \u2013 the council\u2019s Rundle St carpark built in 1975 \u2013 to \u201cextend its useful life\u201d before it reaches a structural expiry date.<\/p>\n
Funding the renewals would push the council to 98 per cent of its self-imposed prudential borrowing limit in the 2032-33 financial year.<\/p>\n
The project spending depends on council members voting on Tuesday to accept the draft long-term financial plan, which would become the subject of community feedback before being approved. <\/p>\n
A council spokesman said it was \u201cimportant not to confuse 98 per cent of the prudential limit with having no remaining capacity\u201d. <\/p>\n
\u201cAt the forecast peak, council would still have approximately $36.1m (including a $17m \u2018allowance\u2019 for uncommitted projects) in borrowing headroom, which is equivalent to around 16.6 per cent of annual rates income for that year,\u201d he said. <\/p>\n
\u201cThis provides for a prudent and manageable buffer while delivering several major renewal projects within a relatively short period.\u2019<\/p>\n
The Lord Mayor was unavailable for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"Adelaide City Council\u2019s debt is forecast to approach a quarter of a billion dollars as it prepares to…\n","protected":false},"author":2,"featured_media":79344,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[121859,121905,121881,45253,121861,121887,121869,121897,121899,121851,121902,121864,121904,121906,121868,72078,121863,121857,121901,76259,66579,121865,62569,57798,121894,121907,121892,395,121866,5639,121885,121875,121850,121909,121874,121879,36917,121878,31752,18509,3352,11554,5204,121910,121890,121903,121880,121862,121852,121849,121856,38592,3430,13559,95856,121847,121858,121871,121893,121882,121895,121883,121900,121877,121898,64911,121891,121886,121853,41892,44490,38322,121889,38263,121872,121884,37627,121854,121888,121846,40686,42261,121855,121860,121867,121896,38846,121848,121876,121911,121873,121870,2223,36985,121908],"class_list":["post-79343","post","type-post","status-publish","format-standard","has-post-thumbnail","category-adelaide","tag-a-council-report","tag-the-1931-built-adelaide-bridge","tag-allowance","tag-s-debt","tag-s-rundle-st-carpark","tag-once-in-a-generation-projects-the-works","tag-16-5m","tag-20-3m","tag-215-9m","tag-216m","tag-27-7m","tag-64-5m","tag-121904","tag-121906","tag-121868","tag-72078","tag-a-17m","tag-a-billion-dollars","tag-a-council-meeting","tag-a-council-spokesman","tag-a-project","tag-a-prudent-and-manageable-buffer","tag-a-quarter","tag-a-reduction","tag-a-relatively-short-period-the","tag-a-structural-expiry-date-funding","tag-a-tramline","tag-adelaide","tag-adelaide-bridge","tag-adelaide-city-council","tag-amenity","tag-annual-rates-income","tag-approximately-36-1m","tag-around-16-6","tag-borrowing-headroom","tag-both-the-bridge-and-weir-renewals","tag-cent","tag-city-ratepayers","tag-comment","tag-community-feedback","tag-council","tag-council-members","tag-debt","tag-eye-watering-debt","tag-fund-works","tag-increased-safety-and-property-damage-risks","tag-its-financial-forecast","tag-its-load-limit","tag-its-own-maximum-borrowing-limit","tag-its-self-imposed-prudential-borrowing-limit","tag-its-useful-life","tag-king-william-rd","tag-life","tag-lord-mayor","tag-messenger-subscription-box-version-2","tag-no-remaining-capacity","tag-poor-condition","tag-rundle-upark","tag-several-major-renewal-projects","tag-sluice-gates","tag-state-or-federal-funding","tag-stormwater-flooding","tag-structural-failure-a-draft-long-term-financial-plan","tag-substantial-pressure","tag-such-huge-repair-bills","tag-that-year","tag-the-2032-33-financial-year-the-project-spending","tag-the-2034-35-financial-year-the-council","tag-the-adelaide-bridge","tag-the-bridge","tag-the-construction","tag-the-council","tag-the-draft-long-term-financial-plan","tag-the-end","tag-the-existing-ratepayer-base","tag-the-forecast-peak","tag-the-funds","tag-the-prudential-limit","tag-the-renewals","tag-the-river-torrens","tag-the-state-government","tag-the-subject","tag-the-torrens-weir","tag-the-torrens-weir-structure","tag-the-weir","tag-the-weir-and-bridge","tag-the-works","tag-their-useful-lives","tag-these-crumbling-cbd-icons","tag-three-ageing-cbd-landmarks","tag-three-city-landmarks","tag-torrens-weir","tag-traffic","tag-tuesday","tag-uncommitted-projects"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/79343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/comments?post=79343"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/79343\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media\/79344"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media?parent=79343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/categories?post=79343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/tags?post=79343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}