Canberra city's urban marketing body has asked the ACT government for $300,000 to wind up its business activities.
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In the City Canberra - a non-profit government organisation responsible for promoting and improving urban areas around Civic, Braddon and Turner - is set to cease business activities at the end of the year.
The newly-created City Renewal Authority will take over responsibility for the administration of funds collected under the City Centre Marketing and Improvements levy from January 1.
Inner-city commercial property owners are levied to fund In the City's activities, contributing about $2.15 million in 2016-17.
In April, the ACT government surveyed levy payers in a review of the group's spending.
Although, the findings of the survey were not released, a number of business owners told The Canberra Times of concerns.
In June, the government announced it's plan to strip IIn the City of funding following criticism from businesses and property owners.
A government spokesman, at the time, said the decision to review In the City was based on major projects happening in the city centre, including the new courts precinct, the Haig Park master plan, the City to the Lake project and light rail.
The former Land Development Agency was split into two separate entities covering urban and suburban development.
The Suburban Land Agency took charge of building new suburbs, selling land in those suburbs, and developing Canberra's stock of affordable housing.
A spokesperson for Chief Minister Andrew Barr confirmed the In the City board had requested financial support beyond December 31 to "undertake administrative activities related to its winding up".
The activities includes auditing and the payment of outstanding invoices.
"The government has agreed to provide up to $300,000 to ITCC to meet costs associated with the wind up until 31 March 2018," the spokesperson said.
"The Government will ensure oversight of the management of this process through audit requirements that must be satisfied by ITCC."
