Kiama Council has secured an extension for the final repayment of the $60 million loan it took out from the NSW Government to construct Blue Haven Bonaira.

The final $15 million payment was originally due in August 2023, but after passing a motion in council chambers on Thursday night, it was agreed that TCorp (NSW Treasury Corporation) will defer the repayment until August 2025.

Council must now advise the Office of Local Government about the renegotiated payment.

Councillor Mark Croxford said the renegotiated deal would take a bit of heat off council in a fiscal sense and would provide an opportunity to help right the wrongs of the past.

“We thought this was going to be a very challenging approach to the situation that we found ourselves in when this council was sworn in back in January of last year,” Councillor Croxford said.

“It’s only been through the persistence and diligence of not only the mayor and the councillors, but also of the chief executive officer and her leadership team and the support staff that we’ve reached this point.”

Councillor Matt Brown spoke in favour of the renegotiated terms; “I’d like to really thank the hard work the CEO [Jane Stroud] and her team have put into this, giving us a bit more breathing room for this particular loan, and I think this has come at just the right time, so congratulations to all those involved, and I’m very pleased that TCorp has listened to the concerns of council and agreed to this extension.”

Councillors Mark Croxford, Warren Steel, Matt Brown, Jodi Keast, Stuart Larkins and Deputy Mayor Imogen Draisma voted in favour of the extension. Mayor Neil Reilly was unable to attend the meeting.

Councillors Karen Renkema-Lang and Kathy Rice voted against the motion after raising concerns around the definition of Blue Haven and whether it included both the Bonaira site and Terralong St locations.

Councillor Lang suggested that, should the vote to approve the new repayment terms fail, it should be deferred until council next meets in July, but it was approved anyway.