COPY.
NEW MARKETS.
Financial Proposals.
Cost of new Central Market.
Cost of new Wholesale Market.
$716,000
150,000
$866,000
7
Provision of Funds.
The Resident Enginner, Gorge Dam, informs me that he definitely anticipates a further saving of at least $125,000, thereby reducing the cost of the Dam to $8,200,000. In addition to this he confidently expects to receive $250,000 from the sale of plant. This
will reduce the net cost of the Dam to $7,950,000. The revised
estimate for the Dam shewn in Appendix VI (b) page 117 of the 1937
Estimates is $8,325,000. The difference between these two figures
$8,325,000 and $7,950,000 is $375,000 representing money available for other works. In addition to this, however, the sum of $49,990.35,
say $50,000, of the total loan remains unallocated (see item 9 in Appendix VI(b)). The total therefore, available for allocation amounts to $375,000 + $50,000 = $425,000. Provision for a new Central Market costing $550,000 was inserted in the Loan Appendix (see item 8) so
that funds available amount to
plus released from Gorge Dam
plus unallocated
Total
$550,000
375,000
50,000
$975,000
As the cost of the two markets is estimated at $866,000 there remains $109,000 over and above requirements, always provided that the sale
of plant and gear fetch $250,000.
Revenue.
The present revenue from the old Central Market is $72,000 per annum. It is confidently anticipated that when the new buildings are completed the revenue derived will be from the new
Central Market
new Wholesale Market
$70,000
24,000
$94,000
Page
Page
2.
8
After the old market is demolished and until the opening of the new markets, there will be a very considerable reduction in revenue as stall holders will have to be accommodated in streets and not only will they pay less stall rent but their numbers will no doubt
decrease.
I would urge, therefore, that once the schemes are approved work should proceed by day and night shifts and the buildings completed at the very earliest date.
sd. Edwin Taylor.
Treasurer.
24.11.36.
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