Page 3674 - Week 12 - Tuesday, 27 October 2015
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video
mechanism for determining that levy value. The value to be paid through this alternative mechanism will be the same amount that would have been payable under a building approval.
The ACT government has recognised that many owners of affected blocks wanted the option to repurchase their blocks after remediation in order to retain their connections with their local community. For this reason the buyback program includes the first right of refusal system which gives the former owner the first option to purchase a new lease over the block once the affected premises have been demolished and the land deemed suitable for redevelopment.
We have also recognised that some of these owners will not be able to afford the cost of repurchasing their block as well as the cost of rebuilding a house on the block, and for this reason we have agreed to offer land rent to those former owners who meet the general eligibility criteria for land rent where they take up a first right of refusal. As we have heard, land rent is a housing affordability scheme that has previously only been available in greenfield estates. The amendments to the Land Rent Act 2008 and the associated Land Rent Regulation are needed to enable land rent to be applied in the very specific circumstances of former affected property owners seeking to return to their block.
These include some slight differences from the way that the land rent scheme is generally applied. General land rent leases are transferrable. However, the purpose of offering a land rent lease to an eligible former affected owner is to enable them to return and rebuild in the community where they have established connections. For this reason it does not make sense for the land rent lease to then be transferred to a different party, and transfer will not be possible where the lease is granted under this first right of refusal.
In addition, consistent with the policy of selling former affected blocks at market value once they have been remediated, land rent leases granted under the first right of refusal will be able to be converted to only a nominal lease, that is, a standard lease, at market value. This differs from other land rent leases where conversion may be calculated at either market value or at the average unimproved value. Other elements of the land rent scheme, such as the rate at which rent is calculated and eligibility criteria including the maximum income threshold, remain the same as for all other land rent leases.
The amendments to the Planning and Development Act 2007 will streamline the demolition process for affected heritage premises. Currently under this act heritage properties are automatically subject to the impact track assessment, which has the highest level of scrutiny and notification requirements under our Planning and Development Act and can take up to 45 working days. Through the amendments, where the Heritage Council has approved a statement of heritage effect under the Heritage Act 2004, the demolition of affected premises will no longer require this impact track assessment. This recognises that heritage buildings are affected residential premises that must be demolished in order to eradicate all loose-fill asbestos insulation whilst ensuring that the heritage significance of that building is
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video