Newcastle Future Fund?

Newcastle is developing a history of passionate and peaceful protest.  Look at the Layman Street Figs for example.

On the weekend, many people hit the streets to protest the cutting and removal of the rail line between Wickham and Newcastle Stations.

The State Government is determined to press ahead with the project with work commencing on Boxing Day, barely 11 days away.

As I wrote in a previous blog, I believe that many people object to the project because they fear what will become of the land.  It now seems inevitable that parts of the land will be sold off for redevelopment.  This in and of itself is not a bad thing, so long as the redevelopment is done well.

Setting that aside, here is a question to ponder – Why can’t the proceeds of the sale of that land be put into a Newcastle Future Fund?

Money from the Fund could only be spent on Newcastle projects.  The Fund could be administered in a completely open and transparent way (a website with audited accounts, for example).  Individuals or groups could apply for grants from the Fund for local projects.   Perhaps the Fund could be used solely for public transport projects?

Anyway, my point is that this money should stay in Newcastle and not be absorbed into State Treasury for redistribution elsewhere.

Anyone agree?