Bega Valley Shire Council has agreed to transfer $750,000 to Transport for NSW (TfNSW) in support of further development at Snug Cove.
The money will be used to support an application to the federal government's Regional Precincts and Partnerships Program (RPPP) for funding to help deliver new boating facilities and improvements in the public domain in Snug Cove.
Council and TfNSW have signed a Memorandum of Understanding which aims to attract funding for further development of Snug Cove which may include a marina (behind the wave attenuator) and associated facilities, shoreside infrastructure, supporting hospitality, retail and marine services.
The move by council to work with TfNSW followed lack of success in attracting private investment in the Snug Cove precinct.
In November 2022 TfNSW undertook a competitive process to seek private investors to lease and operate sections of the Snug Cove Maritime Precinct.
Following evaluation of the proposals received, TfNSW advised they were unable to move forward due to various commercial and risk related factors.
At the time Mayor Russell Fitzpatrick said the situation wasn't good enough for the community.
"As Eden continues to establish itself as a prominent destination for both domestic and international cruise ship passengers, the undeveloped wharf area presents a missed opportunity for revenue generation to benefit the NSW economy.
"The first impression that disembarking passengers have of our shire should be one that reflects the potential and vibrancy of our community, not an underdeveloped harbour," Cr Fitzpatrick said.
The latest plans for Snug Cove's development will not include the old hospitality area which was transferred to Eden Local Aboriginal Land Council.
In late 2023 council supported Transport NSW Maritime to apply for federal government funding under the Regional Precincts and Partnerships Program.
The program provides funding to support precincts across regional, rural and remote Australia to deliver transformative investment based on the aims of unifying regional places, growing their economies and serving their communities. State governments and stakeholders are encouraged to work together.
The $750,000 is part of a $2million commitment from council towards investment in the Port of Eden for the completed Eden Breakwater Wharf Extension project.
However the state government had not invoiced council for $750,000 of the financial liability and it is that portion that is being used in support of the funding application by TfNSW in conjunction with council.