Project name: Singleton Town Centre Improvement Projects
Location: Singleton (NSW)
Client: Singleton Council
Status: Report prepared September 2013
Brief: MacroPlan was commissioned by Singleton Council to undertake a cost-benefit assessment of the Singleton Town Centre Improvement Projects.
Methodology: MacroPlan’s assessment approach included: a Triple Bottom Line Framework and two part methodology: Quantative Assessment and Qualative Assessment.
Triple Bottom Line Analysis: refers to a method of evaluating the level of accountability associated with a project at three levels - social, environmental, and economic. Triple bottom line reporting enables a holistic appraisal of project sustainability.
Quantitative Assessment: The benefit cost analysis identifies the stream of costs and benefits resulting from the project over a 20 year time frame. This is discounted back into today’s dollars at a discount rate of 7% to give a figure which represents the net present value (NPV) i.e. today’s value of the benefits and/or costs. The discount rate represents the time value of money.
Qualitative Assessment: A qualitative assessment has been undertaken to support the Cost Benefit Analysis to highlight a range of potential costs and benefits associated with the project that cannot be assigned a value or readily costed.
Result: This assessment of the Singleton Town Centre Improvement Projects has identified significant economic, social and environmental outcomes that are of direct benefit to the Singleton community and also at state level. The Singleton Town Centre Improvement Projects are considered a critical part of Council’s plans for growing the economy of the area and supporting the area’s forecast population growth. These projects are viewed as a key catalyst for the implementation of the Singleton 2030 strategy which will provide broader economic benefits over time.
Key words: Singleton, Local Government, qualitative, quantitative, economic, social and environmental outcomes, population growth, economic benefits.
Services: Triple bottom line assessment, Economic Cost Benefit Assessment