City seeks input on investment proposal

A proposal to utilise City of Karratha funds on feasibility studies and potentially investing Council funds into the planned Homemaker Centre at Gap Ridge will be the subject of community consultation.

The City currently invests in a range of financial products and owns strategic land assets. The potential Homemaker Centre investment would be a diversification of the City’s investment portfolio.

The Homemaker Centre has already received interest from tenants however is unlikely to become a reality in the short term without Council investment.

City of Karratha Mayor Peter Long said community feedback was being sought before any decisions were made to ensure funds were invested in line with community expectations.

“The City has a range of investment vehicles for money we are saving for future projects. While investing in the proposed Homemaker Centre is potentially higher risk than putting the money in the bank, it will bring new retailers and jobs to the City for the benefit of our residents and potentially delivers greater financial returns that fixed term deposits” Cr Long said.

“All investments come with an associated risk and we want to hear what the community thinks about this particular opportunity,” he said.

“The types of tenants that are interested in coming to Karratha at a Homemaker Centre are ‘big box’ retailers that the community has told us they would like to see here.”

Further information and factsheets will be available for the community prior to the consultation period.

Public feedback will be sought through February via the City of Karratha website and Facebook page.