8
GROWTH
WE’RE GROWING,
BUT JUST A LITTLE
SLOWER THAN
BEFORE
Hamilton is a growing city, but the global
financial recession has made its presence felt.
We’re a city of over 145,000 people. Just
three years ago economic projectons
estmated we would grow to 176,000
people by 2022 and the number of houses
would increase from 50,500 to 60,500. Now
the forecast increase is half that or 55,500
by 2022.
Slower growth means less income for
Council and we have rewriten the budget
projectons accordingly.
However, we will stll spend money finishing
the infrastructure we’ve already started
building. Work on these projects will
contnue over the next three years.
They include the Te Rapa secton of the
Waikato Expressway, Hamilton Ring Road
in the east and water, wastewater and
stormwater infrastructure in Rototuna.
Managing the demands for growth,
balancing the opportunites for future
ratepayers against affordable rates and
debt levels for current ratepayers is an
enormous challenge for the city.
When we take into account our lower
expectatons for growth in Hamilton, the
Council believes our new financial plan
which spends less on growth related
projects than before is sustainable and
realistc.
Council will fund some growth projects
in Rototuna, Rotokauri in the north, and
Peacocke in the south.
We believe it will achieve our main
priority to get debt under control but stll
keep rates rises modest.