Ratepayer subsidy reveals council's business acumen
The mayor has finally let the cat out of the bag.
The ratepayers will bear the cost of the Developer's Delight (aka. the Gosford Landing Project) through a levy or an increase in rates.
Did you ever hear of a private property owner paying out money to have a developer take a site off his hands?
Such is the business acumen of Gosford Council (remember "Never-lost-a-cent" Holstein) that we can look forward to subsidising developers out of our rates for an unforeseeable future.
Where is the return to ratepayers from this?
Isn't a considerable part of the profitable development going to take place on sites leased from the Lands Department?
As far as I'm aware, the Council doesn't collect any revenue from the Lands Department.
Email, 16 Nov 2011
Bruce Hyland, Daleys Point