In reviewing and updating the State Planning Policy 3.6 Infrastructure Contributions, options were explored for a value capture mechanism that would generate a portion of funding for State infrastructure, including METRONET.
Today Minister Saffioti announced due to current housing and property market conditions as well as securing additional Commonwealth funding, it will not be pursued at this time.
"As part of this work, we assessed value capture options, and have decided to not proceed with a model, to help support the local property and housing market.”
"The cost of administration and the insufficient revenue return didn't make it worthwhile, especially when considering the higher than expected Commonwealth funding secured for METRONET.”
See the full media statement here .