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House of Assembly - Fifty-Fourth Parliament, Second Session (54-2)
2021-02-04 Daily Xml
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Lot Fourteen

In reply to the Hon. S.C. MULLIGHAN (Lee) (25 November 2020). (Estimates Committee B)

The Hon. R.I. LUCAS (Treasurer): I have been advised the following:

The initial approved whole of life expenditure budget for the Renewal SA component of the Lot Fourteen project was $432.7 million. This was subsequently revised to $424.5 million. The reduction is principally due to lower land tax payments payable by Renewal SA as a result of the government's land tax reforms. The expenditure budget includes a capital expenditure program of $315.7 million, with the balance relating to operating expenditure and holding costs.

The whole of life capital expenditure budget includes:

$95.9 million for renovation of existing heritage buildings;

$101.2 million for demolition and site remediation; and

$118.6 million for site infrastructure, public realm works and other capital costs.

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