Mr Oxley said ICAC's findings had damaged the city's image.

"It's led to a perception in the community that any development in Wollongong is 'on the nose'," he said, adding it could take a generation for the city to recover.

Since the administrators had taken the reins from the elected council, the organisation had become "very insular and introverted".

"They are reluctant to be seen as actively promoting or fostering an entrepreneurial spirit," he said.

"Decision-making now is so cautious, there's a lot of risk aversion because no-one wants to be seen in any way that might be remotely associated with the past."

Developers were now taking their investment dollars elsewhere.

"We need leaders who are prepared to be strong, creative and flexible in their approach to get things done for the public good," he said. "Yes we need rules, but let's not restrict ourselves so much that our regional cities dry up for want of bold decisions and our young people continue to have to leave home to find work."

Mr Oxley believed that once the administrators had done their job the city would need future leaders to "drive the city hard again".

Mr Oxley did not rule out running for Wollongong City Council himself in the future.

"I'm not going to make any commitment to that, 2012 is too far away," he said. "But never say never, so to speak."

The Mercury today publishes the first of a series of extracts from his book, in which he chronicles the frenzied activity under his administration.