Strange this...
Council denied Airport Link profits?
Georgina Robinson | May 31, 2007 - 3:05PM
Brisbane City Council may have no say in the future of the $3 billion Airport Link tollroad, despite its $30 million injection to get the project off the ground.
The council is still waiting to hear back from the state government about its request to be a shareholder in the completed tollroad - for which construction was given the go-ahead this week.
Being declared a shareholder would give the council input into future decisions regarding the tollroad - as well as a share of profits that will eventually be generated.
The Lord Mayor wrote to Deputy Premier and Infrastructure Minister Anna Bligh at the end of last year asking that council's contribution be recognised with equity in the completed project.
To date, no reply had been received by council and a spokesperson for Ms Bligh said advice was being sought on the request.
Council's $30 million contribution is made up of a $10 million cash injection, as well as the donation of $20 million in land assets.
Roads and TransApex committee chair Graham Quirk said council deserved to be rewarded for its intellectual input as well.
"We have invested a lot of intellectual property into the process of the developing of this project," he said.
"That has meant that the brunt if you like for the development of the EIS and the business case has come from council officers in Brisbane City Council, jointly working with the state government officers."
Airport Link will be delivered alongside the $700 million Northern Busway in a public private partnership (PPP).
The government approved the Environmental Impact Statement on Tuesday and a shortlist of tenderers was due to be announced in June.
Under the PPP, the successful private sector bidder will be responsible for financing, designing, constructing, operating and maintaining the project during a set "concession period".
It would then be returned to the public's hands and Cr Quirk said council deserved a share of the revenue at that point.
"It may be 35 years, it may be 45 years, but at some point there will be a return and at this stage all of that return goes to the state government."
He said a similar arrangement had been worked out on the North-South Bypass Tunnel, which is under construction now.
RiverCity Motorway will take all revenue for the first 35 years, council will share it with them for another ten years and after that all revenue will go to council.
Lord Mayor Campbell Newman said he would continue to lobby for Brisbane ratepayers' fair share in Airport Link.
"In recognition of a $30 million contribution, Brisbane City Council should be given equity in the project," he said.
"I think that's a fair and reasonable approach and I'll continue to push that." |