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Legislative Assembly for the ACT: 2000 Week 7 Hansard (10 July) . . Page.. 2464 ..
The proposal will be underpinned by a Deed between the Territory and the Club. This is aimed at providing as much certainty and protection as possible to the Territory from the Club's performance. This Deed will cover the timing and sequencing of the development, bonds and securities required by the Government and the Club's risks.
In addition, a Deed of Agreement is to be signed between the Club and its developer (Landco Pty Ltd) to guarantee its financial performance and delivery of the project.
(b) The Club was required to submit details of its activities as part of the application process. The Club's developer, Landco Pty Ltd, also provided evidence of its ability to finance the project. Landco has established a sound track record in Canberra over a number of years in both this form of development and is a joint venture partner with the Government on land development in Tuggeranong.
(c) The Club has provided full disclosure on the nature and amount of financial benefit it would receive from the project. It should be noted that the agreement to proceed with a surrender and re-grant has forced the Club to reduce its original revenue estimates from the project to ensure the overall viability of the project.
Question 2
The benefits from the proposal have been extensively discussed during fourteen public meetings. The Burley Griffin LAPAC is supportive of the proposal because of the benefits from additional and improved infrastructure and facilities. These include:new open public space adjacent to the anticline;
more direct public access to the shops;
up-graded landscaping and pedestrian paths in public areas; and
creation of a new oval with increased car-parking that will be available for use by the public as overflow parking.
Question 3
A direct financial contribution was considered but not favoured as the current proposal was seen as delivering a better overall outcome for the local community. Also, the integrated proposal places all risks with the Club, including the risk of not achieving a variation to the Territory Plan for part Section 36.Question 4
Section 33 has been identified for residential purposes under the Territory Plan since its inception. Under normal circumstances, it would have been auctioned for medium density housing by the Government as part of its land release program.
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