Council incentive keeps hope alive
RATEPAYERS were set to fork out millions to help convince Nova City’s developers to go ahead with the now-dead tower project and, although that money remains unspent, the incentive is still in play.
Cairns Regional Council is not quite ready to let go of the $550m Nova project with Deputy Mayor Terry James saying there was still a chance it would go ahead.
“It’s my understanding that the Nova City project is on hold, rather than permanently called off,” he said.
“We all know Covid has dramatically pushed up material and construction costs.
“And with no certainty over when the global economy will return to pre-pandemic stability, it’s not surprising that World Class Global has had to step away from the project at this time.”
Cairns Regional Council was set to spend millions on underground infrastructure such as stormwater drains that would ordinarily be carried out by developers.
It has been touted as a sound trade-off to secure $550m of private investment in the economy – but best-laid plans did not pan out.
Cr James said ratepayers were not copping the cost.
“I must point out that while council has been very supportive of the proposal for the benefits it would bring the city, ratepayers are not out of pocket,” he said.
“Our commitment has only ever been to waive associated fees for parking provisions and infrastructure charges, only applicable once the project is completed.”
Mayor Bob Manning has made headlines in recent months after the Crime and Corruption Commission launched an investigation into a $150,000 loan he received in 2012 from Ranjit Singh – a lawyer for the Nova project.
The watchdog has stressed “allegations should be treated as unsubstantiated until a final outcome is reached”.