In local news, Lord Mayor Adrian Schrinner has announced that Brisbane City Council will spend up to $20 million each year from its “future fund” to buy bushland and create new parks.
The council’s City of Brisbane Investment Corporation began with $135 million in assets in 2008 and has now expanded to $273 million in a decade which provided $20 million in dividends to the council.
Councillor Schrinner says he can now confirm that next financial year we will see a $20 million investment from that “future fund” into buying new bushland which ultimately means a $20 million investment in the green future of our city.