Canberra will receive improvements and maintenance to its local spaces and places through an Urban Improvement Fund from the ACT Government.
The next ACT budget will fund the scheme through the Lease Variation Charge for $22 million for more parts, playgrounds, mowing, shopping centre upgrades, better footpaths and road repairs.
Deputy chief minister and treasurer, Andrew Barr said the government has forecast an additional $22 million to be received from developers this year.
Mr Barr said $5.9 million has already been received and another $15.5 million is expected this financial year, which will go directly to improving the city in the next budget.
According to Mr Barr, developers make an “important contribution” through the building of housing and commercial developments, and is “fair” that the community benefits from the large profits from varying the lease on their land for development.
Chief minister, Katy Gallagher said the ACT Government already provides “record levels” of direct funding into improving the city’s local areas.
“In 2011-12 along, $120 million will be spent on municipal services and local infrastructure upgrades,” Ms Gallagher said.
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