Page 1478 - Week 05 - Thursday, 13 May 1993
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MINISTER FOR HOUSING AND COMMUNITY SERVICES
LEGISLATIVE ASSEMBLY QUESTION
QUESTION NO 610
Housing Trust - Housing Stock Debt
MR CORNWELL: asked the Minister for Housing and Community Services:
(1) Upon Self-Government did the ACT Housing Trust acquire a debt to the Commonwealth Government for housing stock.
(2) What was the value of that debt (a) in 1989 and (b) at 28 Februarv 1993.
(3) How is this debt repaid eg ale of properties, return on rents and if it is not being repaid: why nut.
MR CONNOLLY: The answer to the Members question is as follows
(1) No, the ACT Housing Tans; did not acquire a debt at this time. On the 1st of July 1987 public housing in the ACT was aligned with practices and arrangements under the Commonwealth State Housing Agreement. In that context the ACT Hong Assistance Fund was established and a debt was created which was calculated on the basis of previous capital fund incurred by the Commonwealth for acquisition of the housing stock within the ACT.
(2) The value of debt was:
(a) As at 30 June 1989 $122,697,755.
(b) As at 28 February 1993 $117,450,266.*
* The balance as at 28 February 1993 reflects the original loan from the
Commonwealth to enable a comparison to be made between (a) and (b). It
excludes $45,541,717 internal transfers of debts from the Home Purchase
Account to finance housing stock acquisition to 30 June 92. The overall
debt to the Rental Trust Account as at
28 February 1993 is $162,99_,013.
(3) Debt repayment and interest is paid to the Commonwealth each year from the revenue received by the Trust.
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