Melbourne's radical experiment in democracy has reached a momentous conclusion, with the City Council announcing on Friday it will accept nearly all the recommendations of a 10-year financial plan developed by a citizens' jury. That a group of 43 randomly selected Melburnians meeting over six weekends developed sound policy that is now being implemented is a profound result for anyone despairing at the state of our democracy. And it invites the exciting question, what's next?

But first some background. In 2014, the council commissioned a citizens' jury of residents and business owners to make recommendations on a $5 billion financial plan for the council. The "Melbourne People's Panel" was given open access to information and financial data about council, along with briefings by experts, senior bureaucrats and councillors. Like a jury, they deliberated and delivered a verdict – in the form a report covering priority projects, services, revenue and spending. Now the council has accepted nearly all of the recommendations, including some brave new policies.

Melbourne Town Hall, home of an important experiment in democracy.

On the thorny issue of revenue raising, the council has sidestepped a recommendation for rate rises each year of up to 2.5 per cent above the consumer price index. But the council has accepted the jury's proposal to lift developer contributions, to bring them into closer alignment with Sydney and Brisbane. This is a long overdue reform.

On the fraught question of asset sales, the council has accepted a recommendation to sell non-core assets to reduce the council's property portfolio, as well as a recommendation against privatisation of Citywide, the council-owned infrastructure and environmental services business.