Wilton New Town South East Walker Corp Planning Agreement

The Draft Variation Deed applies to the same land to which the Planning Agreement applies (as listed in Schedule 3 to the Planning Agreement) being land located at Janderra Lane, Picton Road, Almond Street and Argyle Street, Wilton. The objective of the Planning Agreement is to facilitate the delivery of contributions by the Developer towards the provision of infrastructure, facilities and services which will be required in connection with the urban development of the Subject Land. Under the Planning Agreement the Developer is required (amongst other things) to carry out roadworks at the intersection of Picton Road and Pembroke Parade (Intersection Upgrade). In relation to the Intersection Upgrade, the Developer has now finalised a design with Transport for NSW and the work required to upgrade the intersection has significantly increased beyond that required under the Planning Agreement to include the widening and upgrade of Picton Road to meet forecast demand at 2040. Based on costings undertaken on the finalised design, the estimated cost of the Intersection Upgrade has significantly increased and the works will take longer to complete. Accordingly, the objective of the Draft Variation Deed is to amend the Planning Agreement to: • Replace the concept plan for the Intersection Upgrade contained in Schedule 5 of the Planning Agreement to reflect the increased scope of works (the new concept plan is contained in Appendix 1 to the Draft Variation Deed); • Identify the land required to be dedicated for the Intersection Upgrade (this is shown on the Road Dedication Plan which is Appendix 2 to the Draft Variation Deed); • Alter the timing for the delivery of the Intersection Upgrade to before the issue of the Subdivision Certificate which will create the 301st Residential Final Lot; and • Increase the value of the Intersection Upgrade works to reflect the increased scope of works (such values being relevant as potential offsets in the event that the Minister determines that a special infrastructure contribution (SIC) within the meaning of the Act is to be paid in respect of the development of the Subject Land). The Developer is also required under the Planning Agreement to deliver the roadworks required for the Picton Road and Almond Street grade separation. The Draft Variation Deed also amends the Planning Agreement to include a requirement for the Developer to dedicate 4,300 square metres of land in connection with those roadworks. This land is also shown on the Road Dedication Plan which is Appendix 2 to the Draft Variation.