Using grants to attract businesses to The Levee is worth exploring, but there are some key issues that would need to be considered first, the mayor of Maitland, Cr Peter Blackmore says.
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Fairfax Media reported yesterday that Parramatta City Council was spending $5 million to upgrade part of Church Street Mall, the outdoor shopping precinct in the middle of the city.
The council is offering grants up to $10,000 as incentive for businesses to set up in the mall.
Cr Blackmore said the idea was interesting and a prospect that Maitland City Council should look into, but he warned there were factors that needed to be considered first.
He said land lords and real estate agents should also offer incentives to draw new tenants.
The Mercury counted 15 empty shop fronts in the mall between the post office and Taylors of Maitland yesterday.
“It sounds interesting, however one of the big problems is that many premises have absentee land lords,” Cr Blackmore said.
“Some land lords would like to be able to have the same rental return as what they would get elsewhere, but that is not always possible.
“You’ve only got to look at some of the facades on those old buildings and they are not enticing.
“But it sounds like a very interesting prospect. I would certainly like to find out more about it.”
Cr Blackmore said it would also be important to consider what financial return council would receive for the money.
Where to find the money to be able to offer grants to businesses, he said, was another problem.
“It’s not as if we are buying properties and we would not be receiving any rent back,” he said.
“We have to be aware that business is tough no matter where you are.”
Work on the $6.7 million first stage of The Levee project began in June and is expected to be complete early next year.
Stage one involves reopening the pedestrian-only section of High Street to vehicles, between Bourke and Elgin streets. Construction of the second stage, which will involve a river link structure that will open the shopping precinct to the river front, will begin next year.