Lookout! Cessnock Council turns property developer!

 Lookout!  Cessnock Council turns property developer!  JR_Photo_1_Crop2 copy

 Cessnock Greens Councillor James Ryan said it was a remarkable turn of events for Cessnock Councillor to officially become a property developer.
‘I am shocked that a Council like Cessnock with a reputation for approving bad development has chosen to become a property developer.’ said Councillor James Ryan. ‘This is very bad news for the environment, for local residents, and for community trust in local government.’

On Wednesday 19th November 2014  the Council adopted a policy titled  Cessnock Council Property Investment Policy.
The first objective of the policy is to maintain a balanced portfolio of property investments ensuring maximum capital growth, a recurrent income source, and the financial capacity to further invest and develop.
‘Cessnock Council seems to have no capacity to discern between good development and bad development.’
‘Just ask the residents of Millfield and Black Hill,’  said Clr Ryan
‘In both of these locations Council has recently supported rezoning and proposed subdivisions which have no planning justification. The mess Cessnock Council has made of the Heddon Greta area is another example of Council’s poor record.
‘One effect of the Council becoming a developer is that when it purchases property for investment  the price will inevitably rise for local residents and business investment.’ said Clr Ryan.
‘Secondly, when the Council is seeking to maximise its capital investment on property it is very likely it will be tempted to make rules that suit its own property investments.
‘In other words the Council will have a conflict of interest in just about all of its activities.
‘Instead of becoming a modern Council which charges developers a fair amount for the provision of community infrastructure, the ALP dominated Cessnock Council is failing to enforce charges on developers and is itself intending to become a property developer.
 I’m not predicting that Cessnock Council, as a property developer, will be imposing reasonable charges on property development any time soon,’ said Councillor Ryan.

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