Keira MP Ryan Park is calling on the state government to treat the Illawarra the same as the Hunter by allowing the region to pocket any change left over from big ticket projects.
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The Newcastle Herald reports Treasurer Mike Baird has promised Newcastle could keep any money left over from the $460 million announced for a light rail system, funded largely from the sale of the city's port, to use on other regional projects.
Half of the anticipated proceeds of the port sale - $340 million - will be spent on revitalising Newcastle's CBD, in addition to $120 million already committed.
Just 14 per cent - or $100 million - of the $760 million from the lease of Port Kembla has been earmarked for the Illawarra Infrastructure Fund.
Mr Park said the announcement was "unbelievable" and completely offensive to the Illawarra.
"What I want to know is that the same deal in place for the Princes Highway - is that the same for Wollongong Hospital? Is that the same for local schools? If they come in cheaper, do we get to keep the change? I don't think so."
Mr Baird yesterday said the government had been able to direct $270 million towards infrastructure in the Illawarra through the Port Kembla lease, which he said included $170 million allocated to the Princes Highway.
"Contrary to the state of affairs under Labor, this isn't Monopoly money. It is real money, sitting in our infrastructure fund, Restart NSW, and it will be delivered in full," he said.
"Every cent will flow back into the Illawarra."
He said it was still too early to say what the overall proceeds might be if the government proceeded to a long-term lease of Newcastle's port.
"In any transaction such as the long-term lease of Port Kembla or, potentially, the Port of Newcastle, it is important that a significant proportion of the benefits flow back into the local community's most pressing infrastructure needs.
"It is also important to remember that these facilities belong to all the people of NSW."
Meanwhile, Wollongong City Council will tonight vote on formal submissions to secure a slice of the $100 million, to be allocated through an Illawarra Infrastructure Fund.
Lord Mayor Gordon Bradbery said the top priority for funding would be the $45 million Fowlers Road Bridge and road connection.
"Its implications would be so immense, not only in terms of making access much easier, but in the future we're anticipating 17,000 lots being released out there.
"You're looking at an anticipated population of about 40-50,000 in the next 40 years, so that's really a key piece of local work that needs to be done," he said.
