Federation Square Management Changes Ratified
The State Government and the Melbourne City Council today announced that changes to the ownership of Federation Square had been ratified. The move would see Federation Square remain a wholly state-owned company. The Joint Venture agreement between the State Government and the City of Melbourne at Federation Square was updated to reflect the change. Acting Premier John Thwaites today welcomed the finalisation of the ownership change. “It was originally anticipated that this project would be a joint venture between the State and the City of Melbourne. But a $50 million contribution by the Commonwealth and a $338 contribution by the State Government clearly called for a review of that joint venture agreement,” Mr Thwaites said. Lord Mayor, Cr Peter Costigan, said Council was happy with the new arrangement. “We are proud to have been instrumental in kick-starting this important civic project in Melbourne with a $64 million contribution and a further $16 million in the adjoining park now named Birrarung Marr,” Cr Costigan said. “It could not have been established without cooperation and funds from all levels of Government. “However, it is now time to decide on the continuing management and funding of the project, and we have jointly agreed that the State will assume this responsibility,” the Lord Mayor said. Mr Thwaites said the State Government was delighted the City of Melbourne remained committed to Federation Square through the visitor information centre opposite Flinders Street Station which would be a key drawcard for visitors. The City of Melbourne will be represented on the Federation Square Management Board. Cr Costigan said, as well as the establishment and operation of the visitor centre, the Council would continue to contribute to the project through maintenance and refurbishment costs.