by the state and federal governments after an initial rejection by then-prime minister Scott Morrison, was set up to enable the purchase of about 500 severely flood-affected homes.
People look on as a house is inundated by floodwater in Goodna, west of Brisbane, on February 27, 2022.
“Now that we’ve assessed all of those properties, we’ve been able to more accurately anticipate what the best solutions for those properties are, and we really didn’t want bureaucracy to get in the way of the right outcome,” Deputy Premier Steven Miles said at a press conference in a badly hit Deception Bay street.
Miles said money could be moved between the fund’s three elements and after the buybacks, there would be enough left over to carry out the required raising and retrofitting work. Before any buyback deal is settled and a home demolished, a property valuation needs to be agreed upon then accepted by the owner, Miles said.