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Legislative Assembly for the ACT: 2001 Week 1 Hansard (13 February) . . Page.. 57 ..

MR SMYTH (continuing):

flow on benefits to the other shops in the local centre. There will also be employment benefits during construction and once the expanded centre is operating. The land is being sold at market value. The Australian Valuation Office has determined the value of the land at $58,000.

Mr Speaker, the government's recognition of the importance of retailing to the overall fabric of Canberra is shown in other ways. Since coming to office in 1995 the government has invested almost $6.3 million in local and group centres through the precinct management program. The commitment was continued in the recent budget when a range of initiatives was announced to improve some of the key shopping centres. This included $500,000 for minor new works at identified shopping centres around Canberra.

The government will support the initiative undertaken by Argos at the south Kaleen local centre and I believe that there will be benefits to the territory which justify a direct sale of land to Argos so that it can extend the operations of its existing facility.

Mr Speaker, the third lease was granted to Decoin Pty Limited over block 63, section 22, Hume. The lessee will develop its unique building formwork business, Corcon, that has great export potential in the Asia Pacific region.

Support for the project is based on the projected employment growth of 96 positions over five years and the fact that the project is likely to bring new industry to the ACT. The Australian Valuation Office has determined that the value of the land is $265,000. The lessee has opted to take up the rental option of a minimum rent of $26,500 per annum for the first six years. The rent will then be reappraised.

The company has entered into an ACTBIS assistance agreement and provided the company meets the performance targets during the term of the agreement-that is, five years-the ACT government has also agreed to a waiver of the land rent of the lease to a maximum of $150,000.

Mr Speaker, as I have outlined, I believe that there will be significant benefits to the territory from all of these direct sales.

Purchase agreement

Paper

Mr Stefaniak presented the following paper:

Papers

MR MOORE (Minister for Health, Housing and Community Services): Mr Speaker, for the information of members, I present the following papers:

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