OZschwitz: Anger over statist's grab for developer cash

THE State Government is expecting to collect millions of dollars in advance payments from developers pitching for involvement in building work at Barangaroo, East Darling Harbour, the largest remaining development site in the centre of the city.

Before the construction of the Cross City Tunnel, the Government received millions of dollars from parties bidding for the project. This increased the toll paid by users and compromised the Government when it subsequently tried to funnel traffic into the tunnel.

"Developers were encouraged to maximise their financial proposals, including early payments, as part of these bids," the Planning Minister, Kristina Kenneally, said in answer to a question on notice from the Opposition.

"The terms of the proposals for developers of Barangaroo are commercial-in-confidence and are under extensive evaluation."

On the Cross City Tunnel project, the State Government sought as much as $55 million from bidders as an advance payment.

LNK

OZschwitz: Anger over statist's grab for developer cash

OZschwitz: Anger over statist's grab for developer cash

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