From Newsgroup: aus.rail
<
https://www.themandarin.com.au/145189-transport-for-nsw-estimated-toxic-land-was-worth-minus-7m-months-after-purchase/>
https://is.gd/iezSxz
New South Wales Labor is set to introduce a motion to Parliament to
refer the state governmentAs $53.5 Sydney land purchase to the
Independent Commission Against Corruption.
It has come after the Sydney Morning Herald revealed that analysis
conducted by Transport for NSW found the residual value of the
contaminated land at Camellia, Sydney, was calculated at between minus
$3 million and minus $7 million.
The analysis detailed in a secret report was completed seven months
after the state government bought the land for three times more than
its estimated worth.
Transport minister Andrew Constance recently said he has asked the NSW auditor-general to review the deal, with Labor to introduce the motion
to refer the matter to ICAC on Tuesday.
The revelations come two months after the federal auditor-general
found the commonwealth Department of Infrastructure, Transport,
Regional Development and Communications overpaid almost $27 million
for the 12-hectare Leppington Triangle site that was worth just $3.065
million.
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