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Legislative Assembly for the ACT: 1998 Week 9 Hansard (19 November) . . Page.. 2743 ..

APPENDIX 1: Incorporated in Hansard on 19 November 1998 at page 2701

Mr Speaker, yesterday Mr Stanhope asked me a question in relation to stamp duty waivers for the Waldorf Apartments

The question was:

"Can the Chief Minister confirm that the stamp duty foregone would be approximately $710,000".

Mr Stanhope also asked a supplementary question:

"is the Governments stamp duty waiver conditional upon the developer completing the project within an agreed time frame and if so what is the time frame?"

Mr Speaker, the ACT Government has introduced a range of innovative incentives aimed at assisting the revitalisation of Civic and the Northbourne Avenue Corridor.

The central objective of the incentive measures is to encourage the reuse of commercial office space, of which there is a current over supply in Canberra. This objective is in keeping with the Government's commitment to maintain Civic as Canberra's city heart and to maintain an attractive entrance corridor to the north of the city.

Generally, developments in Civic/Northbourne Ave which result in a change of use so that offices are converted to another use consistent with the Territory Plan are eligible to apply for the incentives for that development project.

Under the Government's Civic Revitalisation Policy the incentives are:

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