Around 2 years ago Trader Representatives
made a presentation to management about possible compensation to traders who
were adversely impacted by market renewal.
This followed discussions
with UK public market representatives who had experienced similar issues and,
at least in the case of one UK market, formulated a comprehensive set of
procedures to govern compensation entitlements.
The issue was raised again with
management recently and the question of compensation has become one of the
major un-answered renewal issues for traders after tenancy guarantees.
Councillor Leppert will present
a motion at next Tuesdays Melbourne City Council meeting which in part includes
the following:-
“Endorses in principle the
establishment of a compensation fund for the purposes of providing licence fee
relief for traders whose income is demonstrably affected by the Queen Victoria
Market renewal, and indicates a willingness to forego the annual return to
Council from Queen Victoria Market (approx. $4 million per year) during the
renewal in order to create such a fund; and 4. Requests management to work with
the management of Queen Victoria Market to propose a suitable framework and
mechanisms for a compensation fund for market traders.”
We hope to find out more
detail of how this will work in due course.
