❓ LandCorp's involvement in 149 development projects over 5 years is detailed, including estimated lot creation, involved agencies, and financial returns to the WA government. Completion dates vary significantly based on market demand and project type.
AnsweredQoN 5224Legislative Assembly
QuestionView source ↗
(1) What development projects are Landcorp currently involved in, whether as a manager or partner? (2) For each project listed in (1), what other agencies or private sector entities are involved? (3) What is the estimated number of lots to be created for each project, and how many of these lots will be residential, industrial or any other zoning? (4) What is the estimated return to Government for each project? (5) What is it estimated each project will be completed?
AnswerView source ↗
Answered
10 May 2016
Responded by
Minister for Lands
Response time
56 days
1.LandCorp has 149 development projects active over its 5 year forward estimates period either as managed or partnered.
Active LandCorp projects over 5 year period
Regional Development
68
Metropolitan
42
Industry and Infrastructure
32
Government Services
7
Total
149
2. Each of LandCorp’s projects involve a range of agencies and private sector entities. Some of these include, for example, the Western Australian Planning Commission, the Department of Environment Regulation, the Water Corporation, Horizon Power, the Department of Lands, the Department of Aboriginal Affairs, Local Government Authorities, Regional Development Commissions, property developers, local businesses and suppliers, and land purchasers.
3. Refer table below.
Program
Estimated lots* to be created over 5 year estimates period
Regional Development (including land for residential, commercial, tourism/hotel, light industrial purposes)
1,011
Metropolitan (includes land for residential, apartment sites, commercial/retail sites)
4,450
Industry and Infrastructure (includes General and Strategic Industrial land)
254
Government Services (residential)
2
Total
5,717
*Note: Estimated lots will vary subject to planning and other approvals. A single lot may yield numerous dwellings.
4.LandCorp does not provide returns to government at a project level. LandCorp’s financial returns to the State Government include dividends, income tax expense equivalents (under the National Tax Equivalents Regime), local government rate equivalents (LGRE), land tax, stamp duty and state taxes. Total payments to the State Government for the five year period (2016/17 to 2020/21) are estimated to exceed $589 million.
5.Completion dates for every project will be subject to market demand and will vary considerably. Smaller, metropolitan infill projects in areas of high demand will be completed within five years, whereas some strategic industrial projects have an estimated lifespan of more than 50 years.
Active LandCorp projects over 5 year period
Regional Development
68
Metropolitan
42
Industry and Infrastructure
32
Government Services
7
Total
149
2. Each of LandCorp’s projects involve a range of agencies and private sector entities. Some of these include, for example, the Western Australian Planning Commission, the Department of Environment Regulation, the Water Corporation, Horizon Power, the Department of Lands, the Department of Aboriginal Affairs, Local Government Authorities, Regional Development Commissions, property developers, local businesses and suppliers, and land purchasers.
3. Refer table below.
Program
Estimated lots* to be created over 5 year estimates period
Regional Development (including land for residential, commercial, tourism/hotel, light industrial purposes)
1,011
Metropolitan (includes land for residential, apartment sites, commercial/retail sites)
4,450
Industry and Infrastructure (includes General and Strategic Industrial land)
254
Government Services (residential)
2
Total
5,717
*Note: Estimated lots will vary subject to planning and other approvals. A single lot may yield numerous dwellings.
4.LandCorp does not provide returns to government at a project level. LandCorp’s financial returns to the State Government include dividends, income tax expense equivalents (under the National Tax Equivalents Regime), local government rate equivalents (LGRE), land tax, stamp duty and state taxes. Total payments to the State Government for the five year period (2016/17 to 2020/21) are estimated to exceed $589 million.
5.Completion dates for every project will be subject to market demand and will vary considerably. Smaller, metropolitan infill projects in areas of high demand will be completed within five years, whereas some strategic industrial projects have an estimated lifespan of more than 50 years.
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