$20m buy-out plan

VICURBAN is hoping to negotiate $20 million worth of central Dandenong property sales by the end of the 2006-07 financial year.
The massive buy-up is part of the Revitalising Central Dandenong project.
The $20 million figure was revealed by VicUrban transit cities general manager Dominic Arcaro to the Greater Dandenong Chamber of Commerce last week.
Mr Arcaro stressed that the figure was only a target.
He said that all sales would be the result of owners wanting to sell their land – not through compulsory acquisition.
The buy-up will help formulate the design of the Urban Master Plan.
A draft is expected to be made public in February.