Future of Council’s retirement village now in CEO’s hands
Kiama Council has put one of its largest retirement assets under the microscope as it confronts growing financial pressure.
The Council voted at an Extraordinary Meeting on Tuesday night (7 April) to achieve a balanced operating budget by the end of the 2026-27 financial year.
However, it is seeking debt financing of $10 million for fire safety works at its retirement village Blue Haven Terralong in Kiama on the NSW South Coast.
Blue Haven Terralong is expected to require $45 million to upgrade its 203 independent living units from a “poor” to “fair” rating, with total costs rising to $51.2 million once additional maintenance and refurbishment are included.
Councillors voted on an independent Asset Condition Report for Blue Haven Terralong which enables Chief Executive Officer Jane Stroud to explore options for the future of the village.
The ownership of the Council’s 134-bed Blue Haven Bonaira Residential Aged Care Home and its 59 Independent Living Units was transferred to Perth-based, family owned aged care operator Hall & Prior, effective 1 April 2025.
In order to meet the requirements of a Performance Improvement Order implemented by the NSW Government four years ago, the Council needs to make up a budget deficit of $4.5 million by the end of June next year.
