The Tasmanian Liberal Government is providing the City of Launceston with a $6 million loan to develop an integrated bus interchange that also allows for the development of a new commercial creative precinct on the site.
Minister for State Growth Michael Ferguson and Minister for Local Government Mark Shelton congratulated the council for its involvement in the development of the Paterson Street Central car park, which is a strategically important parcel of land in the city.
“The development of a bus interchange and creative precinct will provide a significant economic boost for the region and create new jobs,” Minister Ferguson said.
“The need for improved traffic and pedestrian connectivity was born out of the Launceston City Deal, which aims to create one of the most liveable and innovative regional cities in Australia.
“There is no doubt the projects delivered and results achieved so far, as well as the works that are currently being undertaken throughout the city, are great examples of what can be achieved when a co-operative approach is taken by all tiers of government.
“The development of an integrated bus interchange will improve traffic flows and create a safer and more pedestrian friendly and accessible environment.
“As we move forward post COVID–19, the need for private – public partnerships will be more important than ever before to deliver essential infrastructure projects for the benefit of our state.”
Minister Shelton said funds for this loan have been made available through our Local Government Loans Program, announced in March.
“The Tasmanian Liberal Government has now approved $147 million in no interest loans for councils to respond to the impacts of COVID-19, providing investment stimulus and employment opportunities for more Tasmanians through the recovery,” Minister Shelton said.
“An additional $50 million will be made available for local governments to encourage investment and employment in our local communities.
“This additional funds bring the No Interest Loans Program value to $200 million, and councils are encouraged to apply for a share of the extra $50 million.”