Redland City Council today voted to extend its Cleveland CBD Incentive Scheme for two years.
Mayor Karen Williams said the extension was granted to take advantage of an improving economic climate and renewed investor confidence in the Redlands.
“We have had a number of applications to access the $1.5 million CBD and tourism industry accommodation incentive schemes that seem likely to generate new investment and want to lure more investors to our city,” Cr Williams said.
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“The exciting Toondah Harbour development project has provided an injection of confidence into the local economy and our incentive scheme will spread the benefit to the CBD.
“More investment means more jobs for Redlanders and a stronger local economy.”
The Cleveland CBD Development Incentives Program was endorsed by Council in October 2012.
Cr Williams said she was buoyed by Council today voting to continue the scheme to grow investment in Cleveland.
“This initiative started in my first year as Mayor because we needed an incentive to kick-start the revitalisation of Cleveland CBD, and later to attract tourism accommodation investment” she said.
“Almost three years later, four tourism operators and one hotelier have submitted development applications to Council for projects that met the activation parameters of the scheme.
“The tourism component of the incentives applies across the entire city and the fact that the majority of the applications currently being assessed are for tourism projects shows that including tourism projects in the incentives is yielding results.
“The two most advanced tourism accommodation projects, both proposed for Waterloo Street, would result in 7,767 square metres of vacant city land being transformed into vibrant, new tourism accommodation (hotel) and commercial precincts.
“So far $128,000 has been provided in development application fee discounts and there is still up to $1.5 million available in infrastructure charges concessions for the first-mover, so I encourage proponents to deliver their projects as quickly as possible.”
Division 2 Councillor for Cleveland Craig Ogilvie said the CBD incentives would help generate investment interest in the heart of Cleveland.
“These incentives will help support the role of the Cleveland CBD as a key employment sector that will play an important part in the future of the city,” he said.
The incentives adopted by Council today include:
• Financial incentives such as waivers of fees and infrastructure charges, subject to financial and budget consideration
• Exemption of rates and utility charges for some projects during construction, subject to financial and budget consideration
• Fast-tracking of development applications and material change of use applications
• Car parking concessions by adopting a base maximum consistent with transit oriented development for material change of use applications under the Cleveland Master Plan and Redland Planning Scheme.
Continuing the Cleveland CBD Development Incentive Program and Tourist Accommodation Incentives Package delivers on Council’s Economic Development Framework 2014-2041 and Corporate Plan. The scheme will end on 30 June 2017.
For more information visit http://www.redland.qld.gov.au/Business/Pages/Business-Incentives.aspx.
