Masters secures discount extension
MASTERS have secured an extension of its 50% development discount from the Bundaberg Regional Council, despite no work starting on the site.
Planning and development spokesman Ross Sommerfeld said the extension was granted to the applicant, Hydrox Nominees, due to "exceptional circumstances".
The council approved the Masters application in January, it was called in by the State Government in June and given final approval in September.
Cr Sommerfeld said the developer had applied to have their discount extended due to the delays.
"The infrastructure agreement that they signed, which was called in of course, provided the ability for applicants to request the council extend the discount period," he said.
"When they applied, they applied under the conditions where we could look at a request to extend the period based on exception circumstances.
"And we believed with the reasons they gave that we would agree to that, provided they had substantially commenced the project by March next year."
Cr Sommerfeld said the development needed to be finished by February 2016 but said Masters had indicated it planned to be finished well before that time.
Cr Sommerfeld said as the Masters development was over $1 million, 50% was always the maximum discount they were eligible for under the Bundaberg Open for Development initiative.
"The infrastructure incentives program is capped at a million dollars so they would never have been able to get 75% anyway, they were always in the 50% (category)," he said.
And while Masters is still yet to submit an application to start construction on the site, Cr Sommerfeld believed it was not far away.
"I believe it's being prepared at the moment, they couldn't lodge anything until they got all the permissions and approvals," he said.
"But I believe that should not be too far away from being lodged, they're certainly very keen to submit that."
Two other developments in Bundaberg North and Childers also applied for and received an extension on their discount periods.
A project on Hanbury St by E Schmidt Pty Ltd and another on Browns Rd in Childers by Isis Industrial Developments were granted extensions.
"We're there to promote development and as you can understand one size doesn't fit everything and thing happen beyond your control and in the three cases there was exception circumstances as to why they applied for it and it those three cases we agreed that was fine," Cr Somerfeld said.