On 20 March the government introduced the Economic Development and Other Legislation Amendment Bill 2024 that seeks to make changes to the operating model of Economic Development Queensland (EDQ).
The bill seeks to amend the act in five ways.
- Housing supply, affordability and diversity – Creating additional pathways for EDQ to facilitate the delivery of social and affordable housing while aligning with government targets and priorities
- Investment powers – Inclusion of undertaking investment activities in property assets as a function of the Minister for Economic Development Queensland
- Place Renewal Framework – Enable EDQ to lead coordinated and integrated urban renewal through a place renewal framework by establishing place renewal areas
- Amendments for operational efficiency – Implement measures to deliver operational efficiencies to the Minister’s existing functions
- EDQ’s corporate structure – A Chief Executive Officer and Board will be appointed to EDQ. The board will consist of a department representative, the Queensland Under-Treasurer and up to six non-government members with expertise relevant to the work EDQ undertakes.
The advocacy team of the Property Council’s Queensland Division is preparing a submission ahead of the 11 April deadline and welcomes member feedback on what the amendments will mean for you.