Cobar is a remote town in western NSW. For 30 years the local Council has been supporting Lillian Bray Village, a 34 bed hostel and care facility and now wants somebody else to take over given its losses. Ratepayers are subsidizing its $2.5 million annual budget by $200,000 a year. Between 2005 and 2010 it made losses of $335,000; in the past two years it made a surplus after subsidies of $14,000. This is a tip of the iceberg. Each week another Council declares it needs to unburden itself of a community care facility.
Legal Issues
VCAT rules Lifestyle Communities’ DMF model illegal
Lifestyle Communities’ business model is under serious threat after a ruling by VCAT President Justice Ted Woodward found its exit fee structure to be illegal. The ASX-listed land lease operator, which was valued at $861.9 million and placed in...
