Council Offer Infrastructure Charge Subsidies
Following several months of lobbying by industry groups, the Gold Coast City Council have offered developers a 35% subsidy on infrastructure charges.
The ’stimulus package’ worth approximately $4m is a far cry from the $20m package that was given ‘in principal’ support last December. The proposed package comprised a 35% subsidy for residential projects, as well as a 65% subsidy for new commercial developments.
The subsidies will apply to new projects commencing from the 29th of March, and will be reviewed in six months.
