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Legislative Assembly for the ACT: 2016 Week 08 Hansard (Wednesday, 10 August 2016) . . Page.. 2602 ..

(d) the Chief Executive Officer (CEO) of the LDA authorised payment for the land on 5 September 2015;

(e) the CEO of the LDA authorised this payment under the financial delegations delegated to the CEO by the LDA Board under the Financial Management Act 1996;

(f) this delegation was established by the LDA Board on 4 July 2003 under the then Planning and Land Act 2002;

(g) under these delegations, the Chief Financial Officer is not required to sign off on transactions;

(h) the CEO of the LDA has assured the Government and the Assembly this transaction was conducted in accordance with his financial delegation, which requires LDA funds to be used efficiently, ethically and effectively;

(i) the LDA acts commercially and negotiates on a commercial basis, using valuations as a guide to inform negotiations;

(j) the CEO of the LDA judged two valuations on the land were sufficient as the negotiated price for the land fell within the range of the valuations;

(k) where possible, the LDA pursues commercial negotiations in good faith before exploring compulsory acquisition, reducing legal risks and keeping legal costs low;

(l) no other entity, including the casino operator, has any right or option over this land, and the LDA has made no offer to sell the land to any party;

(m) none of the LDA Board members nor any LDA staff have declared a conflict of interest over this transaction;

(n) the Project Control Board—made up of the Directors-General from Transport Canberra and City Services, Economic Development, and the Environment and Planning Directorate, the Deputy Chief Executive of the LDA, the Under Treasurer, an LDA Board representative, and an external specialist on development and project finance, James Cain—and the Government Solicitor provide advice on probity for the project;

(o) the City to the Lake project has been subject to scrutiny and oversight by the Assembly and its committees; and

(p) the Auditor-General has informed the Assembly she is conducting a performance audit on this transaction, and will report her findings to the Assembly; and

(2) looks forward to receiving the Auditor-General’s performance audit of this transaction in due course.”.

The government will not be supporting Mr Coe’s motion in its current form, but I have moved an amendment this morning that addresses the issues he has raised in his motion.

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