In­vestors have a choice

South Burnett Times - - SOUTH BURNETT BUDGET -

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.

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