Darwin City Waterfront - Revenue
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WRITTEN QUESTIONS
10th Assembly
19/07/2005
3. Darwin City Waterfront - Revenue
Ms Carney to for Chief Minister
QUESTION
1. What revenue will be received as the Waterfront site is developed; how will it be paid and how much per year is this expected to be.
2. Where will this revenue be coming from.
ANSWER
Answered on 05/10/2005
S:\7 Secretariat\7-2 Ministerials in Progress\WRITTEN QUESTIONS\M20050359TI - Written Question 03.doc
Revenues are received from potentially five sources. These are:
Stage 1 property development (Bank Cheque on completion of each sale)
Stage 2 property development (Bank Cheque on completion of each sale)
Property Owners (Rates, levies and concession charges paid to the Statutory Corporation)
Concession Charges for use of public and other facilities
Darwin Convention & Exhibition Centre (Revenues offset against expenses)
WRITTEN QUESTIONS
10th Assembly
19/07/2005
3. Darwin City Waterfront - Revenue
Ms Carney to for Chief Minister
QUESTION
1. What revenue will be received as the Waterfront site is developed; how will it be paid and how much per year is this expected to be.
2. Where will this revenue be coming from.
ANSWER
Answered on 05/10/2005
S:\7 Secretariat\7-2 Ministerials in Progress\WRITTEN QUESTIONS\M20050359TI - Written Question 03.doc
Revenues are received from potentially five sources. These are:
Stage 1 property development (Bank Cheque on completion of each sale)
Stage 2 property development (Bank Cheque on completion of each sale)
Property Owners (Rates, levies and concession charges paid to the Statutory Corporation)
Concession Charges for use of public and other facilities
Darwin Convention & Exhibition Centre (Revenues offset against expenses)
Question 1 | Question 2 |
Basis of Payment | Method of PaymentEstimated Amount (nominal dollars)Approximate TimingRevenue Source |
 | Stage 1 |
| 12% of Gross Proceeds | Bank Cheque$8.4m2008-2009Residential Sales |
| 10% of Gross Proceeds | Bank Cheque$2.0m2008-2009Non-Residential Sales |
| Stage 2 |
| 18% of Gross Proceeds | Bank Cheque$170.0m2009-2018Residential Sales |
| 10% of Gross Proceeds | Bank Cheque$10.7m2009-2018Non-Residential Sales |
| Statutory Rates / Levies / Concession Charges | Annual Charges$1.0-2.0mPer annum on completionProperty Owners / Concession Holders |
| DCEC Revenue net against expenses | Reduction in Territory Op Contribution($2.5m) forecast in first stabilised year of operationPer annum from openingDCEC Concession Period Operations |
Last updated: 04 Aug 2016