Investors have a choice
PROVISIONS have been made to carry out work at the failed Memerambi Estate development in anticipation of a positive response from investors.
At the June South Burnett Regional Council meeting a resolution was passed allowing drainage and road works to be completed if investors agree to contribute up to $30,000 per allotment.
Funding of $2.1 million has been allocated to complete the work, but the money will be borrowed. Cr Kratzmann said the council could still back out.
He said the works will not be completed unless the majority of investors agree to the resolution, forming a special benefited area at the estate.
“If we didn’t include it in this year’s budget we would have to wait until the next budget meeting,” Cr Kratzmann said.
“(It’s)… to ensure we can move if things go to plan.”
Correspondence to each investor has been sent outlining the proposal and the council should have an answer by the end of the month.
“If they choose not to (agree) we won’t go ahead and council will walk away,” he said.
There are 70 allotments and more than 40 investors.