90 JENSEN ROAD WADALBA 2259 Fortis Properties Australia Pty Ltd Planning Agreement

The Developer is seeking to subdivide the Subject Land into into approximately seventy[1]nine (79) Torrens Title residential lots and three (3) residue lots (in stages), provision of associated infrastructure and an environmental corridor, and the erection of approximately thirteen (13) dwelling houses, generally in accordance with Development Application DA/1242/2022 which has been lodged with Central Coast 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 $108,033 per NDA (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 former Wyong Local Environmental Plan 2013 (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.