Tuesday, 25 August 2009

Parramatta. Park rezoned for mised use

Parramatta City Council has rezoned Bartlett Park, on the corner of Victoria and Wharf roads, at Ermington, for mixed use. Council largely owns the 4.85-hectare site with the RTA owning two lots. The bulk of the site consists of unformed playing fields, with the Putt Putt Golf Course at one end and the Ermington Gospel Trust church building at the other. The RTA has indicated a willingness to negotiate on commercial terms, a council report said. Council would decide whether to lease, to sell or to develop the site when feasibility studies are complete.


Parramatta. Council surplus

Parramatta City Council showed an operating surplus of $4.743 million, in the 2008/09 financial year. “This is noteworthy because we started the year under considerable financial pressure, with a strong expectation of a significant operating loss,” said CEO, Dr Robert Lang. The primary reasons for the surplus increase were a focus on containing costs, the receipt of additional grants and better than expected returns on investments, in the final quarter.


Region. Hardie fine like 'parking ticket'

Professor Michael Adams, head of the school of law at UWS, said the $80,000 fine imposed on James Hardie Industries for breaching corporations' law was comparable to a parking fine in terms of the company's size and ability to profit. While the penalties seemed extremely low, he maintained the outcome was still very important in terms of defining the legal duties of executives and their responsibility to explain important and complex transactions - including professional reports - to all non-executive directors.