Recognising the Johannesburg Development Agency’s role in regenerating the inner city, the City of Johannesburg is setting aside a capital budget of R612-million for the agency over the next three years.
Tabling his budget speech on 27 May at the Joburg Theatre Complex, Joburg’s MMC for finance, Councillor Geoffrey Makhubo, said the Johannesburg Development Agency (JDA) would receive an operating budget of R79-million for the 2014/15 financial year.
This means the agency will receive a three -year capital budget of R612-million to implement projects such as the Inner City renewal and regeneration programme.
Makhubo assured his audience that “Johannesburg is financially in its best shape yet,” adding that “The inner city is a critical priority as a mixed node, as well as other marginalised areas such as Diepsloot, Ivory Park, Alexandra, Soweto and the Greater Orange Farm.”
He added that “capital investment is a key contributor in improving service delivery and transformation of the urban environment through infrastructural development”.
Makhubo said the City is also on track with its programmes to invest R100-billion in infrastructure over a ten-year period, in keeping with this year’s budget theme, City@Work.
He said, “The capital budget has grown from an initial R4.5-billion in 2012/13 to more than R10-billion for the coming financial year. This is a key tool for improved service delivery, which gives the City the ability to change the urban environment for the better through infrastructural development.”
Mokhoba added that during this year, which marks the 20th anniversary of South Africa’s democracy, the City has pledged to continue building on the country’s momentous past achievements.