Page 701 - Week 03 - Tuesday, 12 April 1994

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Joint ventures have been established in:

(a) ACT Housing Trust (Housing and Community Services Bureau, Attorney Generals Department);

(b) Department of Environment, Land and Planning;

(d) Department of Education and Training.

(a) ACT Housing Trust

(1) The Housing Trust was involved in a joint venture with the Abbeyfield Society in 1988 to construct a house to provide a home for ten aged persons in -Ainslie with accommodation for a live in carer. The Commissioner for Housing entered the joint venture on behalf of the Housing Trust.

(2) The Commissioner for Housing represented the Housing Trust on this joint venture

and was assisted by the Manager of the Property Development Section in day to day

management.

(3) None of the Housing Trust officers or their families had any interest in the joint

venture.

(4) Housing Trust officers involved in this joint venture received no benefit or specific

indemnity.

(5) This joint venture agreement is commercially confidential and release of details would

be inappropriate. However, related papers of a non confidential nature might be released

subject to FOI guidelines which protect confidentiality.

(6) Capital funding for this $500,000 joint venture was provided by the Abbeyfield Society,

through a grant of $100,000 from the Bond Corporation. The remaining costs, including the

land, were met by the ACT Housing Trust.

(7) and (8) The return to the Housing Trust was the provision of a ten bedroom house for aged residents who qualify for Housing Trust support. The many benefits of joint ventures are:

• good integration of public housing into the community within large projects;

• the opportunity to participate in large developments offers economies of scale;

• the opportunity to develop otherwise isolated and locked up land holdings;

• the opportunity to participate in redevelopment by contributing land but not capital thus stretching limited liquid capital funds to achieve government objectives; and

• the opportunity to partner organisations with complementary strengths.

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