BRIAN STOCKWELL: Chamber of Commerce and Industry representative.
BRIAN STOCKWELL: Chamber of Commerce and Industry representative. CONTRIBUTED

Unitywater share allocation planned says transfer manager

THIS is a report back to Noosa businesses and the community of the Noosa transfer Local Advisory Committee meeting No. 3, from Chamber of Commerce and Industry Representative Brian Stockwell.

The key issues arising from this month's meeting included the clarification of the transfer of shareholdings in Unitywater, the commitment to continue Hastings Street Security funding after the end of the year and, unfortunately, the confirmation that the existing council has not considered Noosa in its application for $649,000 of Federal Government funding.


SEVERAL people had raised concerns with me about potential implications to Noosa of the processes and loans raised as part of the formation of Unitywater.

Transfer manager Peter Franks was able to advise that Noosa would be allocated shareholdings in Unitywater equivalent to the value of the assets transferred to the entity from the old Noosa Shire Area. This will make the new Noosa Council a minor shareholder in the company, receiving 5% of annual dividends paid to the three councils involved after January 1, 2014. We should not be burdened directly by debt raised by the former Maroochy Shire.

Hastings St security

MR FRANKS has made a commitment to the Hastings St traders to continue the current level of funding out of the relevant levy to maintain security services until June 30, 2014. The Sunshine Coast Council was unable to commit past December 31 this year, which may have raised some issues from New Year's Eve through the peak holiday period if funding was delayed until a motion of support could be obtained from the new Noosa Council.