Finance
The Albury Wodonga Corporation (AWC) contributed equity to three joint development arrangements with two local government bodies, namely the City of Albury and the City of Wodonga. These projects involve the development and sale of industrial and residential lots in separate precincts situated within the local government boundaries of Albury and Wodonga. Equity contributions by the Corporation involve land, estate development costs, rates and maintenance. Development works have been completed and the finished lots are currently being marketed. The terms of each agreement provide that "the rights, duties, obligations and liabilities of the parties shall be several and not joint nor joint and several". The arrangements are not partnerships and each party is separately responsible for any assets held or liabilities incurred in respect of the arrangement. These joint ventures transferred to the Department of Finance when the AWC was abolished in December 2014.

Further information

  • Type of Body

    J. Joint Ventures, Partnerships and Interests in Other Companies

  • Established By / Under

    Corporations Act 2001 / Company / Trust Deed / Partnership

  • Classification

    C. Other

  • Creation Date

    30 June 2015

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