82 COLLAROY PARADE LOUTH PARK 2320 Tom Goold Planning Agreement

The Developer is seeking to subdivide the Subject Land into approximately 31 residential lots along with undertaking associated infrastructure, including the creation of internal roads and stormwater drainage infrastructure, generally in accordance with DA/2022/1260 which has been lodged with Maitland City Council (Proposed Development). The Developer has made an offer to the Minister to enter into the Planning Agreement in connection with the Proposed Development.

The Planning Agreement provides that the Developer will make a monetary contribution of $91,250 per hectare of net developable area (subject to indexation in accordance with the Planning Agreement) (Development Contribution) for the purposes of the provision of designated State public infrastructure within the meaning of clause 6.1 of the Maitland Local Environmental Plan 2011 (LEP).

An instalment of the Development Contribution will be payable prior to the issue of each relevant subdivision certificate in accordance with Schedule 4 to the Planning Agreement.

The Developer is required to provide a $20,000 bank guarantee in accordance with Schedule 5 to the Planning Agreement. The objective of the Planning Agreement is to facilitate the delivery of the Developer’s contributions towards the provision of designated State public infrastructure referred to in clause 6.1 of the LEP.