Calculation of Affordable Housing. (a) The minimum total square meterage (Gross Floor Area) of Affordable Housing to be provided on the Land as part of the Development, as required by clause 1(a) of Schedule 3, is to be calculated using the following formula: where
Calculation of Affordable Housing. (a) The minimum total square meterage (Gross Floor Area) of Affordable Housing required by clause 1 of Schedule 3 is to be calculated using the following formula: where
(b) The following sets out the particulars of how the parties will manage the attribution of AHGFA to the delivery of the Public Benefits for the Development:
(i) if the Affordable Housing Building is delivered prior to the final stage of the Development, the Developer must deliver an Affordable Housing Building of approximately 2,194 square metres. Any amount of AHGFA calculated in addition to the GFA in the Affordable Housing Building must be paid in accordance with clause 3.2(a)(ii);
(ii) as part of issuing the Development Consent for each stage of the Development contemplated by the Planning Proposal, the City will:
