Toowoomba Regional Council recommended to extend temporary Toowoomba CBD development incentive policy

An extension of a strategy aimed at encouraging large-scale development and investment has been recommended to council by their economic development committee.

An economic development committee has recommended Toowoomba Regional Council extend a temporary policy aimed at encouraging larger-scale quality new development and investment across the CBD.

Toowoomba Regional Council Mayor and Economic Development Committee chair Paul Antonio said the recommendation would extend the date by which eligible developments needed to be substantially started by around 18 months to December 31, 2022.

Mr Antonio said the policy offers infrastructure charges discounts for qualifying developments of up to $1 million per project, out of a total pool of $3 million, for projects that align with the objectives of the Toowoomba City Centre Master Plan.

“Council is planning for well into the future to ensure we have the basic infrastructure to service future development and support the expansion of inner city living,” Mr Antonio said.

“Council’s City Centre Master Plan, which was adopted in 2010, has been the catalyst for a range of public and private investments; including laneway development, public realm, parklands and public art.

“Council will continue to progress projects that are identified through the City Centre Master Plan. This year we are preparing a new Toowoomba City Centre Action Plan 2032 that will outline priorities for the next 10 years to create a more vibrant and attractive city centre.

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“We will support and invest in the growth of the Toowoomba CBD, including the Railway Parklands PDA, by working with land and property owners, developers, investors, government and professional advisers.”

The committee recommendation will be considered for adoption at the next ordinary meeting of council on August 17.

Originally published as Toowoomba Regional Council recommended to extend temporary Toowoomba CBD development incentive policy