Page 4055 - Week 13 - Thursday, 10 November 1994
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The single shared accommodation scheme has been eagerly awaited by both the Housing Trust and the community housing sector. While it will be a valuable addition to the range of accommodation options provided by the Housing Trust, because of the shared nature of the housing, it will not be a panacea for the housing needs of all single people. Madam Speaker, the two brochures that have been produced outlining the details of the service quite clearly set out the options in stage 1 and stage 2. Stage 1 is through a head tenancy. I specifically would like to extend my appreciation to the community housing sector in the ACT for its cooperation in developing this very appropriate response to homelessness, or to one facet of homelessness, in the ACT.
Harcourt Hill Development
MR DE DOMENICO: Madam Speaker, my question without notice is to the Minister for the Environment, Land and Planning. I refer again, Madam Speaker, to the $25m unconditional guarantee which the Government has given to the joint venture developer Harcourt Hill Pty Ltd. Minister, what conditions have to be met for a firm to be eligible for an ACT Government guarantee? Is the Government prepared to offer similar financial guarantees to local developers in the future?
MR WOOD: Madam Speaker, the Opposition, I presume, will pursue this during question time. The Opposition might not be aware that all banks in recent times have been reviewing their lending practices, following the outcomes of the 1980s. We are accommodating to that in that we understand that change. We have entered into that agreement with great care. It has been carefully examined, through all government agencies and has been clearly seen to be an appropriate agreement. If circumstances arise, it could well happen in the future; but it would be based on an assessment, case by case, in the circumstances at the time, and would be entered into with the same care with which we entered into this arrangement. Mr De Domenico likes, sensationally, to put out the word "unconditional".
Mr De Domenico: That is what it says in the contract.
MR WOOD: It is a very secure investment for the ACT, Mr De Domenico.
MR DE DOMENICO: I have a supplementary question, Madam Speaker. Minister, does this not mean, in fact, that if the Sydney based partner in Harcourt Hill cannot pay its bills the ratepayers of the ACT will have to pay the debt?
MR WOOD: Madam Speaker, it means that we have the guaranteed security of ACT government land, ACT assets, as cover for that arrangement. There is no problem in respect of the ACT.
Mr Kaine: But we already have those assets.
Mr De Domenico: We already have those.
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