Development Corporation for Townsville

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Commitment

Establish a Development Corporation to negotiate acquisition and development of land to lead the revitalisation of Townsville. The Development Corporation will encourage property and infrastructure investment, ensure ongoing engagement with industry and private sectors to attract investment and help create an attractive urban environment, supported by high quality open spaces.

Responsibilities

Led by Townsville City Council in consultation with the Queensland Government.

Progress to Date

In early 2018, an Expression of Interest was issued for Board Members following the establishment of the Development Corporation and its Terms of Reference in 2017.

Before progressing this commitment further, Townsville City Council is awaiting the outcomes of the Queensland Government’s consideration of a review by the Queensland Crime and Corruption Commission (CCC) into the use of controlled entities and beneficial enterprises by local governments. This will allow Townsville City Council to examine potential impacts on the beneficial enterprise concept previously endorsed by Council to ensure it remains the best approach for the establishment of the Development Corporation, and that it is consistent with the Queensland Government’s response to the CCC’s recommendations.

Next Steps

Townsville City Council will assess the potential impacts of the Queensland Government’s response to the CCC’s recommendation when available. In the interim, Council will continue to work with all levels of government to facilitate ongoing investment in the region.