Taxpayers face significant future liabilities from the Opal Tower debacle due to a state government agency retaining ownership of more than 40 units inside the Sydney Olympic Park development, and potentially retaining liability for the costs of rectifying the development.

After awareness of the deep cracking within the 34-storey tower came to prominence before Christmas, a stoush over responsibility erupted between property developer Ecove and its builder Icon Construction.

The Opal Tower at Sydney Olympic Park in Sydney. Credit:AAP

However, there is also a chance that much of the burden of the costs of rectifying the structure and compensating those who have lost out from the faults could fall on NSW taxpayers through the state government organisation the Sydney Olympic Park Authority (SOPA).

This situation could dint hopes of using land development at Olympic Park to pay for future government promises. Late last year, for instance, the Berejiklian government said it would raise $30 million from land sales at Olympic Park to pay for a Cricket NSW Centre of Excellence, after Cricket NSW was dislodged from Moore Park by the impending construction of a $730 million stadium.