In relation to McPherson Court:

(1) Who bought McPherson Court;

(2) When was it sold;

(3) When was the money paid; and

(4) Who was it paid to.

(1) MacPherson Court was sold to Community Housing Canberra Limited. The sale was brokered by the Government to further the expansion of the community-housing sector and to demonstrate innovative redevelopment proposals using public housing sites.

(2) The Heads of Agreement (Memorandum of Understanding) setting out the basis for the sale of the lease for MacPherson Court was executed on 16 June 1999. The lease was handed to Community Housing Canberra Limited on 13 October 1999 and the title formally transferred on 29 October 1999.

(3) No money has yet been paid for the purchase of the land by Community Housing Canberra Limited. The Heads of Agreement document provides that ACT Housing will be paid in units in the redevelopment as compensation for the transfer of the MacPherson Court land or at its discretion the proceeds from the units so identified. The timing of the payment for the land by Community Housing Canberra Limited is based upon the date that the units are completed or handed over to ACT Housing. The Heads of Agreement provide that the price will be escalated based upon movements in the Consumer Price Index.

(4) The units as payment for the sale of MacPherson Court will be handed over to ACT Housing. However, at this stage as the redevelopment is currently in progress, the units identified for transfer to ACT Housing are not sufficiently completed to enable them to be handed over to ACT Housing for tenanting.