Strathbogie Shire has secured $350,000 in federal funding for the Lake Nagambie Boardwalk Extension, which was announced on May 7 by the federal member for Murray, Damian Drum MP.
This infrastructure project connects the existing boardwalk in Jacobson’s Reserve to Bryde Street, which is designed to enhance access for lake users to existing commercial premises in the town centre. The project has an overall cost of around $700,000, with the balance to be funded through a combination of Council funding and private investment.
Urban Enterprise prepared the business case for this project, which examined the key market, financial and economic impacts. The report concluded that the project is financially viable, as it could help generate up to an estimated $350,000 in additional visitor spend per annum. This is likely to generate flow-on economic benefits to Strathbogie Shire, including additional economic output of $1.2 million during project construction, as well as ongoing economic output of around $700,000 per annum once operational.
Urban Enterprise is pleased to have contributed to the development of this project and is excited for the opportunities it provides to Strathbogie Shire.