Legislative Council, Wednesday 31 May 2023

Ms FORREST question to LEADER of the GOVERNMENT in the LEGISLATIVE COUNCIL, Mrs HISCUTT

With regard to the separately specified $85m extra government borrowing in relation to the proposed stadium and Macquarie Point:

1. Why is this amount or these borrowings specified separately; and

2. If it relates to an amount to be hypothecated against lease revenue or land sale;

a. what leases or land sales does this relate to; and
b. whom are these leases and/or land sales expected to be with or to?

ANSWER:

The capital funding required for the stadium is $715 million based on independent cost estimates. The Tasmanian Government has committed $375 million, the Australian Government $240 million and the AFL will contribute $15 million. The remaining $85 million is proposed to be funded through borrowings leveraged against land sale or lease for commercial uses associated with the multipurpose stadium.

Precinct planning will be undertaken and led by the Macquarie Point Development Corporation, which will inform the subsequent development of stadium design work. Opportunities for land sale or commercial lease opportunities will be identified as that work progresses.

Expert input will also be sought from Stadiums Tasmania as the design work progresses. Approaches from potential commercial parties are also anticipated as project scoping and development advances.