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Legislative Assembly for the ACT: 1999 Week 5 Hansard (6 May) . . Page.. 1513 ..

MR HUMPHRIES (continuing):

I am sure all Members would agree that the Territory's land resources are one of our most significant and important assets.

It is our responsibility to ensure that best use of this resource is achieved in a way that optimises the benefits to the community as well as ensuring longer term sustainable planning for the Territory.

Any land use must also respect the environment that we live in.

The document contains analysis of all market, demographic and economic information which impacts on land activity and trends.

It outlines key principles and priorities for the next five years. One of the key principles relates to the transparency in land sales processes.

The Property Advisory Council has recommended to the Government that land should generally be released through an open and transparent process. Having said this, the Council also recognised that there may be occasions where it would be in the Territory's interest to directly negotiate. In these cases, appropriate accountability measures have been recommended.

Other principles covered under the program include:

. linking land releases to the Government's business incentives program, where land has been sought by proponents;

. optimising the use of existing infrastructure through infill development across suburban areas that have been left undeveloped over the years; and

. ensuring that maximum benefits come to the Territory through setting reserve prices at levels which recover the average costs of providing major physical infrastructure.

The Government's key priorities for land releases over the next five years include providing adequate choice across all market segments and, as I mentioned, conserving the Territory's natural resources. Greater flexibility will also be encouraged, particularly in relation to land uses around group and local centres.

It will also be important to maintain an adequate balance between land demand and the supply of land in the market. For this purpose, it is proposed to maintain a developers' and builders' supply pipeline based on three years demand.

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