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Millions lost?

Millions of dollars appear to be missing from the council’s GovHub dud government deal – surely not residents’ money may be being thrown away again.

We believe council is only valuing the four sites without the buildings.

We value the buildings and land on the open market at over $25 million, and would expect that to be reflected in the sale price for the properties to the government. That’s $25 million of Greater Bendigo residents’ money. The present council chambers in Lyttleton Terrace alone would be worth $20 million.

Cr Pethybridge at the 20 February Council Meeting innocently revealed land value alone was $5.32 million; obviously told that at a non-public councillor briefing.

Page 57 of the report to councillors merges income from the sale of the land with government contributions; total value of just $8.7 million. The report did not explain what the $2.38 million government contributions were for.

A value for the buildings is nowhere to be found in the public 20 February officer report to councillors. Surely council is not simply wiping their values off the books? Our money!

We have written to council seeking clarification. We will report the outcome as soon as we receive a reply.



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