Client: Cairns Regional Council
Cairns Regional Council (Council) proposed to upgrade the Fearnley Street Boat Ramp Car Park at a cost of $1.27 million, to increase car park capacity and thereby realise the facility's full potential and reduce congestion on nearby roads with informal parking. CRC sought grant funding from the Queensland Government under the Building Our Regions Fund Round 5. AEC were engaged to undertake economic analysis to support CRC's funding submission. Specifically, AEC undertook a demand profile based on previous research and projections for boat ramp facility demand and supply in Queensland; an assessment of the economic impacts of the Facility to the Cairns economy through construction and operations activity using Input-Output modelling and a cost benefit analysis (CBA) for the proposed Facility, suitable the BOR5 grant application. The CBA was undertaken in line with Queensland and Australian guidelines for project appraisal and provided an estimate of the net present value (NPV) and benefit-cost ratio (BCR) for the project.