Yarra City Council has referred an application for a 4360 sq m five-storey commercial development in Abbotsford to Planning Minister Richard Wynne for approval.
Described as a business hub, Meydan Group's 'Prime, Abbotsford' project involves the redevelopment of a large three-storey office building and carpark at 32-68 Mollison St and the widening of Little Nicholson St.
The project had been referred to a planning panel after the council received nine written objections from nearby residents.
A representative of the Meydan group addressed the council at a meeting last month, saying the planning amendment for the project would bring more people to the area and grow it as an employment precinct.
Yarra City Council is projecting a loss of $9.2 million in parking fees and fines this financial year and $5 million in leisure facility charges as a result of COVID restrictions.
The income loss was the major factor in a forecast $2 million deficit for the 2021-22 financial year, as compared to the $8.8million surplus forecast in the budget.
The council's mid-year budget review concluded it was not in a position to fund any extra projects in the current financial year.
A carpark in Stephenson St, Cremorne, will close after Yarra City Council approved the effective sale of the area to VicTrack for $600,000.
The 56 sq m area was formerly a road, which councillors voted to discontinue at a meeting earlier this month. The vote formalised an agreement already struck between the council and VicTrack, which had sold the discontinued road as part of a 1,413m parcel of land in December last year.
Agents Jones Lang LaSalle Melbourne said the triangular block, which was bought for just over $21 million, had been acquired for a residential and hospitality development.
In passing the motion, councillors moved that the $600,000 value be applied to open space acquisition in the Cremorne area.
A foundation set up to support Yarra City Council's goal of carbon neutrality which received $370,000 in council funding has attracted state government grants worth $1.2 million in the current funding period.
The Yarra Energy Foundation received $800,000 from the government last year to install a first-of-its-kind community battery in the City of Yarra, and $428,000 from Sustainability Victoria to act as the home of the Metropolitan Community Power Hub.
While independent councillor Herschel Landes raised concerns about a lack of financial detail and discussion of the challenges involved in the foundation's complex mission, the majority of councillors endorsed a progress report which evaluated the foundation's progress as "solid".