Confusion over how CDU will pay for the land to build new $430 million CBD site

THERE is confusion over how Charles Darwin University will pay for the land to build its $430 million CBD campus, after reports surfaced the Vice-Chancellor was heard suggesting CDU would not be paying for the site

Charles Darwin University vice-chancellor Simon Maddocks has reportedly said the uni will not pay for the land in the city at the site of the new campus

THERE is confusion over how Charles Darwin University will pay for the land to build its $430 million CBD campus, after reports surfaced the Vice-Chancellor was heard suggesting CDU would not be paying for the site.

Sources said Vice-Chancellor Simon Maddocks was heard implying to staff that CDU would not be paying $14.6 million for the Cavenagh St site.

Construction on Charles Darwin University CBD campus could begin as early as July

It comes after the Sunday Territorian asked CDU how it would pay for the site to build its mammoth new campus, to which a university spokeswoman said: “The carpark land was always going to be transferred from the City of Darwin to Charles Darwin University under the City Deal.

“The land transfer has taken place at the beginning of the project rather than at the end, as was the original plan.

“The early transfer will help CDU to expedite the project and to free up CoD to pursue other projects.”

A City of Darwin spokeswoman said it agreed to transfer the land early to fast-track the project, but expected full payment to be made.

“City of Darwin expects to receive $14.6 million, which is an amount representative of the original equity contribution by City of Darwin (in land value) prior to the change in arrangements for the delivery of the project,” she said.

The Sunday Territorian asked CDU again if it was going to pay for the site, to which the spokeswoman said: “The CoD rightly says that it expects to receive $14.6 million,” she said. “This is what was agreed in writing by the City Deal partners.

“It’s just not going to be committed as part of the project on the carpark site now, allowing us to fast track our part of that project … The facts remain as we have previously communicated to you.”

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This week the Morrison Government reaffirmed its commitment to the project by providing $97.3 million, with support from the conditional $150 million NAIF loan.

It is unknown if these funds will be used to pay for the site.