SEQ CITY DEAL SIGNED
The Property Council has applauded the signing of the $1.8 billion SEQ City Deal between the Australian Government, Queensland Government and Council of Mayors (SEQ). Today’s commitment is an important milestone in the delivery of a shared vision and narrative for the region- one region; connected locally and competing globally.
SEQ’s City Deal has committed all levels of government to a 20-year agreement that includes 31 initiatives, 15 of them place-based and 16 of them region-wide. The initiatives are grouped under four strategic objectives:
- Accelerating future jobs across SEQ
- A faster, more connected SEQ region
- A more liveable SEQ
- Creating thriving communities for SEQ
Initiatives are identified as projects (such as Kangaroo Point Green Bridge), programs (such as SEQ Innovation Economy Fund) or pipeline (such as Ipswich-Springfield Public Transport Options Analysis).
The flagship project is $450m for the Brisbane Metro- Woolloongabba Station. Other notable investments include:
- $285 million SEQ liveability fund
- $210 million Growth Area Compact
- $10 million to implement a strategic approach under the EPBC Act
- $5 million to establish a planning framework for future region-shaping infrastructure
Today’s signing is the first step in the 20-year Deal, with formal terms of agreement to be finalised by May. A governance framework will be adopted shortly after that, and the formal implementation plan is expected to be in place before the end of 2022.
Project delivery will commence immediately, and milestones have been agreed to for annual reporting, along with a 3-year formal review and evaluation point.
The Property Council is part of the City Deal’s Industry Reference Group that will meet regularly to provide input to the Deal.
As a 20-year Deal with many programs and pipeline initiatives yet to be finalised, there is scope for ongoing review and input to the Deal.
The Property Council has been the leading advocate for an SEQ City Deal, having worked closely with all levels of government to build consensus around the proposal:
City Deals, first pioneered in the UK, involve a long-term contract between levels of government, committing to a series of investments and initiatives which have been prioritised because of their potential to create jobs and improve productivity and liveability. City Deals have been strongly championed by the Property Council and rolled-out in Australia through the Federal Government’s Cities Agenda.
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