❓ Hon Robin Chapple questions the Minister for Regional Development regarding a planned buyback scheme for properties in Port Hedland affected by dust, focusing on industry's role, fairness to residents, and valuation methods. The Minister acknowledges the need for a resolution and industry's financial responsibility.
AnsweredQoN 768Legislative Council
QuestionView source ↗
DUST MANAGEMENT —
PORT HEDLAND
768. Hon ROBIN CHAPPLE to the Minister for Regional Development:
I refer to the planned buyback
scheme for properties in Port Hedland affected by dust.
(1) What role does the government
expect industry to play in a voluntary buyback scheme?
(2) How will the government ensure
a result that is fair to the residents of Port Hedland?
(3) Given there
is only one buyer and the value is suppressed due to the zoning restrictions,
health warnings on title and regulatory uncertainty for the last decade, how
will the market value of the properties included in the buyback scheme be
determined?
(4) Does the minister agree with
the member for Pilbara that this is industry's mess to clean up?
PORT HEDLAND
768. Hon ROBIN CHAPPLE to the Minister for Regional Development:
I refer to the planned buyback
scheme for properties in Port Hedland affected by dust.
(1) What role does the government
expect industry to play in a voluntary buyback scheme?
(2) How will the government ensure
a result that is fair to the residents of Port Hedland?
(3) Given there
is only one buyer and the value is suppressed due to the zoning restrictions,
health warnings on title and regulatory uncertainty for the last decade, how
will the market value of the properties included in the buyback scheme be
determined?
(4) Does the minister agree with
the member for Pilbara that this is industry's mess to clean up?
AnswerView source ↗
I thank the member for the
question.
(1) We accept
that such a scheme would need to be administered by a state government entity,
albeit the buyback itself would be funded by industry.
(2) The buyback
would affect owners of residential zoned properties who would be negatively
affected by changes in zoning.
(3) Work is being
done to establish the mechanism for establishing the market rate. The member
will be aware that the scheme being discussed would include a 35 per cent
premium on top of the market value. It is important that we understand that
property values in Port Hedland are underpinned by a thriving iron ore
industry.
(4) The McGowan
government believes that these issues cannot continue to be swept under the
carpet and a comprehensive resolution is required. We certainly think that the
industry must bear the brunt of the economic cost of doing this.
question.
(1) We accept
that such a scheme would need to be administered by a state government entity,
albeit the buyback itself would be funded by industry.
(2) The buyback
would affect owners of residential zoned properties who would be negatively
affected by changes in zoning.
(3) Work is being
done to establish the mechanism for establishing the market rate. The member
will be aware that the scheme being discussed would include a 35 per cent
premium on top of the market value. It is important that we understand that
property values in Port Hedland are underpinned by a thriving iron ore
industry.
(4) The McGowan
government believes that these issues cannot continue to be swept under the
carpet and a comprehensive resolution is required. We certainly think that the
industry must bear the brunt of the economic cost of doing this.
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