Are you about to pay for this $122 million development? See how this change can affect you soon
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When we hear the word 'development', we think about laws and changes that could benefit everyone—especially seniors.
However, some developments may take a turn for the worse, as seen in a recent council meeting.
In a move that left many residents reeling, the North Sydney Council voted in favour of a staggering 87 per cent rate hike.
This followed a costly pool redevelopment project that spiralled into a financial fiasco worth $122 million.
The decision, made amidst a chaotic council meeting, sparked a wave of anger and disbelief among the community.
Several residents slammed the situation and likened it to being served a 's*** sandwich.'
The council chambers were a scene of high drama as residents lined up to voice their outrage over the proposed rate increase.
The meeting, which lasted over three hours, saw strong opposition.
However, the motion was still passed with a 7-3 vote, and the application for a Special Rate Variation (SRV) is now in the hands of NSW's independent regulator.
The public gallery, incensed by the decision, erupted with calls for the next election to bring change.
Under the SRV, North Sydney residents could face a 45 per cent increase in 2025-26. This increase could go up to 29 per cent by 2026-27.
The minimum residential rate, which 72 per cent of residents currently pay, could jump from $715 per quarter to $1200 in 2025-26.
The minimum business rate should also rise from $715 to $1400.
Mayor Zoe Baker found herself in heated exchanges with the public gallery and urged them to 'show some respect'.
'I'm stopping the clock because this is an outrage! You're happy to listen to the Liberal Party councillors, but you will not listen to those who aren't,' Mayor Baker exclaimed.
Mayor Baker defended the rate hike as a necessary evil, citing 'more than a decade of neglect by the former Liberal-aligned council'.
The botched redevelopment of the heritage-listed North Sydney Olympic Pool left the council with a $61 million external debt.
It also depleted internal infrastructure reserves by another $30 million.
The COVID-19 pandemic further exacerbated the financial strain, with non-rate revenue such as parking falling by $9.9 million.
The council's report highlighted a $146 million infrastructure maintenance backlog, adding to the urgency for the rate rise.
However, only 5 per cent of respondents in the council's community engagement survey supported the 87 per cent proposal, indicating widespread disapproval.
Residents like Justin Curry expressed 'concern and horror' at the proposed increase.
'I'll be paying $300 per week in rates for no extra benefit,' Mr Curry said.
'My neighbour—an 82-year-old woman—will also pay $300 a week. You have people who are asset-rich and cash-poor, elderly women living on teachers' pensions. It's outrageous.'
Crows Nest resident Judith White called on the council to 'sharpen your pencils' and find cost savings instead of burdening ratepayers.
State Liberal MP Felicity Wilson and federal Liberal candidate Jaimee Rogers echoed the community's concerns.
The timing of the rate hike came amidst an ongoing cost-of-living crisis not just in NSW but in Australia.
Residents also shared stories of financial hardship, as some feared selling their homes or cutting back on essentials like food or medical expenses.
The council's long-term plan, which also passed at the meeting, aimed to raise an extra $558 million from ratepayers over 10 years under the SRV.
Several residents called the ambitious monetary goal a 'complete overkill'.
The meeting also saw suggestions for alternative solutions, such as corporate partnerships and naming rights deals for the pool to offset costs.
Independent councillor James Spenceley labelled the proposal 'immature'.
Other councillors cited the financial strain it could cause on young families and first-home buyers.
Despite the controversy, some council members, like Deputy Mayor Godfrey Santer, argued that the rate hike, while high, was necessary due to the low base rates and the need to maintain services in the face of increasing population density.
See the North Sydney Olympic Pool's redevelopment progress here:
Source: North Sydney Council/YouTube
The NSW government's urban density push required North Sydney to accommodate thousands of new dwellings in the coming years.
The debate over the rate hike raised essential questions about fiscal responsibility, governance, and the balance between maintaining services and affordability for residents.
As the NSW Independent Pricing and Regulatory Tribunal (IPART) is scheduled to release its annual 2025-26 special variations decisions later this year, the North Sydney community will be watching closely, hoping for a reconsideration of the council's financial strategy.
We would love to hear your thoughts on this issue. Have you experienced similar rate hikes in your area? How should councils manage their finances without overburdening ratepayers? Share your experiences and opinions about this redevelopment in the comments below.
However, some developments may take a turn for the worse, as seen in a recent council meeting.
In a move that left many residents reeling, the North Sydney Council voted in favour of a staggering 87 per cent rate hike.
This followed a costly pool redevelopment project that spiralled into a financial fiasco worth $122 million.
The decision, made amidst a chaotic council meeting, sparked a wave of anger and disbelief among the community.
The North Sydney Olympic Pool's redevelopment has been a contentious project. Image Credit: YouTube/North Sydney Council
Several residents slammed the situation and likened it to being served a 's*** sandwich.'
The council chambers were a scene of high drama as residents lined up to voice their outrage over the proposed rate increase.
The meeting, which lasted over three hours, saw strong opposition.
However, the motion was still passed with a 7-3 vote, and the application for a Special Rate Variation (SRV) is now in the hands of NSW's independent regulator.
The public gallery, incensed by the decision, erupted with calls for the next election to bring change.
Under the SRV, North Sydney residents could face a 45 per cent increase in 2025-26. This increase could go up to 29 per cent by 2026-27.
The minimum residential rate, which 72 per cent of residents currently pay, could jump from $715 per quarter to $1200 in 2025-26.
The minimum business rate should also rise from $715 to $1400.
Mayor Zoe Baker found herself in heated exchanges with the public gallery and urged them to 'show some respect'.
'I'm stopping the clock because this is an outrage! You're happy to listen to the Liberal Party councillors, but you will not listen to those who aren't,' Mayor Baker exclaimed.
Mayor Baker defended the rate hike as a necessary evil, citing 'more than a decade of neglect by the former Liberal-aligned council'.
The botched redevelopment of the heritage-listed North Sydney Olympic Pool left the council with a $61 million external debt.
It also depleted internal infrastructure reserves by another $30 million.
The COVID-19 pandemic further exacerbated the financial strain, with non-rate revenue such as parking falling by $9.9 million.
The council's report highlighted a $146 million infrastructure maintenance backlog, adding to the urgency for the rate rise.
However, only 5 per cent of respondents in the council's community engagement survey supported the 87 per cent proposal, indicating widespread disapproval.
Residents like Justin Curry expressed 'concern and horror' at the proposed increase.
'I'll be paying $300 per week in rates for no extra benefit,' Mr Curry said.
'My neighbour—an 82-year-old woman—will also pay $300 a week. You have people who are asset-rich and cash-poor, elderly women living on teachers' pensions. It's outrageous.'
Crows Nest resident Judith White called on the council to 'sharpen your pencils' and find cost savings instead of burdening ratepayers.
The timing of the rate hike came amidst an ongoing cost-of-living crisis not just in NSW but in Australia.
Residents also shared stories of financial hardship, as some feared selling their homes or cutting back on essentials like food or medical expenses.
The council's long-term plan, which also passed at the meeting, aimed to raise an extra $558 million from ratepayers over 10 years under the SRV.
Several residents called the ambitious monetary goal a 'complete overkill'.
The meeting also saw suggestions for alternative solutions, such as corporate partnerships and naming rights deals for the pool to offset costs.
Independent councillor James Spenceley labelled the proposal 'immature'.
Other councillors cited the financial strain it could cause on young families and first-home buyers.
Despite the controversy, some council members, like Deputy Mayor Godfrey Santer, argued that the rate hike, while high, was necessary due to the low base rates and the need to maintain services in the face of increasing population density.
See the North Sydney Olympic Pool's redevelopment progress here:
Source: North Sydney Council/YouTube
The NSW government's urban density push required North Sydney to accommodate thousands of new dwellings in the coming years.
The debate over the rate hike raised essential questions about fiscal responsibility, governance, and the balance between maintaining services and affordability for residents.
As the NSW Independent Pricing and Regulatory Tribunal (IPART) is scheduled to release its annual 2025-26 special variations decisions later this year, the North Sydney community will be watching closely, hoping for a reconsideration of the council's financial strategy.
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