Last week the Queensland Parliament passed the Economic Development and Other Legislation Amendment Bill 2024.
The act expands the remit of Economic Development Queensland (EDQ) to:
- Incorporate social and affordable housing into EDQ’s main purpose and reinforcing the role the entity plays in driving housing supply, affordability and diversity
- Introduce the Place Renewal Framework, where a Place Renewal Area can be declared to bring about stronger coordination for a precinct for better value and better place-based outcomes
- Change to the corporate structure of Economic Development Queensland, where from 1 July 2024 EDQ will become a stand-alone entity reporting to the Minister for Economic Development Queensland
- Increase efficiency of existing functions and powers.
You can read the Property Council’s submission on the Bill online.
More information can be found online.