Commenting on the story: Rex Patrick takes aim at old Le Cornu site secrecy
I applaud Mr Patrick’s challenge to the veil of secrecy which the Adelaide City Council has drawn around its operations over a long period of time.
In my years as an Adelaide City Councillor, I made many attempts to break this culture of secrecy created by the administration. I regularly failed and often for a lack of support or courage from my fellow elected members.
There are circumstances where confidentiality has to be respected, during periods of tendering and other forms of commercial negotiation, but when the contract is completed I could see no reason why the derails should be withheld, and indeed many good reasons why they should be made public.
Public funds and assets are being used and the public is entitled to know how. If a commercial entity is not prepared to deal in a transparent manner, then don’t deal with the Council.
I wish Mr Patrick luck in this endeavour. – David Plumridge, former Deputy Lord Mayor, City of Adelaide
The 88 O’Connell project is being cited as a $250m project. That is the sales value of the project.
Generally the land component of an apartment development of this nature is about 20%, I‘m told by people in the industry.In this case, if the Council only asked for its $25m share of the $35m that was paid to Makris, then the property has been massively undersold to C&G and the ratepayers sold up the river, in my opinion.
Given the increased development allowance up to 16 storeys, up from the 8 storeys established in consultation with the community, by the Guiding Principles prior to sale the site should have been sold for twice as much.
As it stands, if the Council have sold it for only $25m, for someone who is paying $1m for an apartment, only $100K of that is the land component, which leaves $900K for the construction of an 80sqm apartment and developer profit. – Sandy Wilkinson
Good on you Rex Patrick. There is no place for secrecy in a healthy democracy.
The “I smell a rat” response is legitimate when there is a lack of transparency and citizen ratepayers are kept in the dark. Unbelievable that councils continue to avoid accountability. Who do they think they are? – Marilyn Kingston
Sic ’em Rex! – Cate Stone
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