Toowoomba Regional Council's (TRC) Economic Development Committee today (August 11, 2021) recommended updating the Temporary Toowoomba CBD Development Incentives Policy.
Toowoomba Region Mayor and Economic Development Committee chair Cr 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.
Mayor Antonio said the policy was aimed at encouraging larger-scale quality new development and investment across the CBD and the Toowoomba Railway Parklands Priority Development Area (PDA); especially for the adaptive re-use of heritage listed and former industrial buildings and sites.
"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," Mayor 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.
