Redland council to review investment corporation operations post COVID-19

COUNCIL will review the performance of its advisory groups, the Redland Investment Corporation and Economic Development Advisory Board.

REVIEW: Council will review RIC operations in relation to post COVID-19 work.

REVIEW: Council will review RIC operations in relation to post COVID-19 work.

The review's emphasis will be on supporting post-COVID-19 economic development.

Redland City Council mayor Karen Williams said with global economies adapting on the back of the pandemic, the time was right to review RIC and EDAB to ensure council continued to support the local economy.

"The future of our economy is bright with more than 130 major projects and investments worth more than $6 billion on the horizon, with the potential to deliver thousands of jobs," Cr Williams said

"As we recover from the COVID pandemic it's important we take advantage of these opportunities and this review is all about building on these foundations to deliver the infrastructure, jobs and partnerships needed to support the community."

Cr Williams said the reviews would be run in parallel, with no impact on existing RIC projects.

"This all about transitioning rather than stopping, so it will be business as usual for these existing projects, including the our Priority Development Area precinct redevelopments and revitalisation of Capalaba town centre, which are all currently under way.

"Both RIC and EDAB are focused on building our local economy, so it makes sense for these reviews to be run in parallel, with a report to come back to council by 30 June 2021."

In 2018 Local Government Minister Stirling Hinchliffe raised concerns about council-owned entities after a Crime and Corruption Commission report into issues at the trouble-prone Ipswich City Council.

One of the CCC's recommendations was that the Local Government Department probe whether council-owned companies were needed as they led to corruption risks at Ipswich.

The CCC said that council-owned companies were not subject to the same level of transparency, oversight and accountability as council operations and employees.

Community complaints also have been raised about RIC, with people arguing that council could be doing the same work.

RIC is a wholly council-owned company set up in 2014 and it has looked after projects like the Weinam Creek redevelopment. It has an independent board that oversees projects at council's direction.

EDAB was set up the following year and is made up of local business leaders who advise council on projects.

Council also reviewed its operations last year.