Council introduced the Build to Benefit Scheme in April 2013 to stimulate the property and building industry on the Sunshine Coast. The scheme involves reduction in Council’s infrastructure contributions for targeted developments.
The target developments include:
- Commercial Office;
- Indoor Sport and Recreation Facility;
- Education Facility;
- Essential Services;
- Accommodation (short term); and
- Specialised Use (tourist attraction).
The target incentives include:
- 50% reduction in Council infrastructure contributions for developments with construction commencing after 1 July 2013 and completed by 30 June 2014.
- 37.5% reduction in Council infrastructure contributions for developments with construction commencing after 1 July 2013 and completed by 31 December 2014;
- 25% reduction in Council infrastructure contributions for developments with construction commencing after 1 July 2013 and completed by June 2015.
A review of the Build to Benefit Scheme has been undertaken and has revealed that 51 developments were approved for the infrastructure contributions reduction. With the scheme due to finish in June this year, should the scheme by extended for future years to continue to stimulate growth in the property and building sector? Are there other specific developments that should be included within the target developments in which the incentive applies?
(Image and article courtesy of the Sunshine Coast Daily: 17th February 2015)
SUNSHINE Coast Council has slashed $2.9 million in infrastructure charges from 51 projects approved under its Build and Benefit Scheme launched in 2013.
Of that, $1,873,968 has already been realised by developers, with the balance expected to be awarded to projects completed by the June 2015 deadline.
"Together with development application fee reductions and council's existing Investment Incentive Scheme, the Build and Benefit program formed a package of measures aimed at stimulating investment on the Sunshine Coast at a time when there was a notable decline in development investment,'' a spokesman said. Read More...