Lake Macquarie City Council is headed for its highest gross debt on
record should it go ahead with its plans to triple its borrowings to
$159 million dollars by 2022.
The move coincides with a planned average rate rise of 55 per cent over seven years for Lake Macquarie residents.
The money would be used to fund infrastructure such as the Glendale transport interchange and the Awaba tip extension.
Mayor Jodie Harrison says the debt will be an investment into Lake Macquarie’s future.