This submission is in response to the consultation regarding regulations for the implementation of the Government’s Building Upgrade Finance Mechanism under the Local Government (Building Upgrade agreements) Amendment Act 2015 (the Act). As you would appreciate, while Business SA has shown in principle support for the concept of building upgrade finance, we also raised strong concerns over 2014 and 2015 about the fact that tenants would not be voluntarily contributing to building upgrade finance projects, despite any mechanisms to ensure that such funds were only recovered against proven savings. We were also concerned about the abrogation of tenant rights and the removal of protection under the Retail and Commercial Leases Act 1995.
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