❓ A parliamentary question regarding the financial implications of the Minister's decision to halt the Point Peron MRS amendment, including costs incurred by LandCorp and Cedar Woods, and potential compensation.
AnsweredQoN 2650Legislative Assembly
QuestionView source ↗
I note the Minister's recent decision not to proceed with the MRS amendment in relation to Point Peron and ask: (a) Will this decision incur any liabilities or costs for the government, and if so what are they; (b) How much has LandCorp spent, together with Cedar Woods as part of the proposed development; (c) Did the Minister at any point in time instruct LandCorp not to continue providing assistance in relation to this development and if so on what date did this occur; (d) Are Cedar Woods entitled to any compensation in relation to this decision and if so, what is the expected compensation; and (e) Will the Minister table the terms of the contract between Cedar Woods & Landcorp if the MRS didn't proceed and if not, why not?
AnswerView source ↗
Answered
8 May 2018
Responded by
Minister for Transport; Planning; Lands
Response time
9 days
(a) Yes. Liabilities and costs include the reimbursement of a portion of Cedar Wood’s costs spent to attain environmental, planning and other approvals.
(b) LandCorp has spent $2,016,428. Cedar Woods’ costs are the subject of current discussion. Cedar Woods released a relevant statement to the Australian Stock Exchange on 1 March 2018.
(c) No.
(d)-(e) Landcorp accepts that Cedar Woods will be entitled to reimbursement for a portion of costs spent on the project. However, the final amount is currently subject to discussion.
(b) LandCorp has spent $2,016,428. Cedar Woods’ costs are the subject of current discussion. Cedar Woods released a relevant statement to the Australian Stock Exchange on 1 March 2018.
(c) No.
(d)-(e) Landcorp accepts that Cedar Woods will be entitled to reimbursement for a portion of costs spent on the project. However, the final amount is currently subject to discussion.
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