ULDA is a financial risk for government

Previously I’ve asked “Does Queensland need an Urban Land Development Authority?” and it appears my concerns were well placed. Yesterday’s Townsville Bulletin reports Flood risk puts housing sales on hold:

A STATE Government housing project at Oonoonba has been taken off the market after it was revealed it is in the middle of a flood zone.

Lots in stage one of the State Government’s small-lot community, known as The Village, will now be built up between 200 to 400mm to protect against a one-in-100 year event flood.

The council’s recently released Ross River Flood Study appeared to show the project, which is overseen by the Urban Land Development Authority, would be badly affected by such a flood event.

The ULDA was able to blame advice from consultants regarding the risk of flooding, but I wonder if the ULDA is undertaking the same level of due diligence that private sector developers with their own money at stake would undertake?

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2 Responses to ULDA is a financial risk for government

  1. Pingback: Newman Government to cut stamp duty and weaken ULDA | Queensland Economy Watch

  2. Pingback: Government right to consider scrapping ULDA | Queensland Economy Watch

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