Common use of Change to Development Contributions Clause in Contracts

Change to Development Contributions. (a) The parties acknowledge that as at the date of this agreement: (i) Council is proposing to adopt a ‘value sharing approach’ for development within the Parramatta CBD under a Local Environmental Plan by means of a separate planning proposal for the Parramatta CBD and an accompanying Infrastructure Strategy and Development Guideline; (ii) the Monetary Contribution for this agreement has been calculated on the basis of a monetary rate per square metre of land (Value Sharing Rate), being a percentage of land value uplift (as defined in the Council’s Planning Agreements Policy); and (iii) the Value Sharing Rate is being applied consistently by Council at the date of this agreement, but may change when the planning proposal for the Parramatta CBD is finalised. (b) If, at the time the first instalment of the Monetary Contribution becomes payable (Payment Date): (i) the Value Sharing Rate adopted by Council is less than the rate applied under this agreement (being $150 per square metre); and (ii) as a consequence of the reduction of the Value Sharing Rate, Council amends the Development Contributions Plan, or adopts a new Development Contributions Plan that applies to the Land, so that the Development Contributions payable for the Development are higher, per square metre or other basis of measurement used to determine the quantum of contributions, than they would otherwise have been as at the date of this agreement; then, within 20 Business Days of either party making a request for review, the Council and the Developer must meet to review this agreement in accordance with the principles in clause 9.2(c) and using their best endeavours and in good faith.

Change to Development Contributions. (a) The parties acknowledge that as at the date of this agreement: (i) Council is proposing to adopt a ‘value sharing approach’ for development amend the LEP to address the provision of community infrastructure within the Parramatta CBD under a Local Environmental Plan by means of a separate planning proposal for the Parramatta CBD and to adopt an accompanying Infrastructure Strategy and Development Guideline; (ii) the Monetary Contribution for this agreement has been calculated on the basis of a monetary rate per square metre of land (Value Sharing Community Infrastructure Rate), being a percentage of land value uplift (as defined in the Council’s Planning Agreements Policy); and (iii) the Value Sharing Community Infrastructure Rate is being applied consistently by Council at the date of this agreement, but may change when the planning proposal for the Parramatta CBD is finalised. (b) If, at the time the first instalment of the Monetary Contribution becomes payable (Payment Date): (i) the Value Sharing Community Infrastructure Rate adopted by Council is less than the lowest rate that can be applied under this agreement (being $150 per square metre); and (ii) as a consequence of the reduction of the Value Sharing Community Infrastructure Rate, Council amends the Development Contributions Plan, or adopts a new Development Contributions Plan that applies to the Land, so that the Development Contributions payable for the Development are higher, per square metre or other basis of measurement used to determine the quantum of contributions, than they would otherwise have been as at the date of this agreement; then, within 20 Business Days of either party making a request for review, the Council and the Developer must meet to review this agreement in accordance with the principles in clause 9.2(c) and using their best endeavours and in good faith.

Change to Development Contributions. (a) The parties acknowledge that as at the date of this agreement: (i) Council is proposing to adopt a ‘value sharing approach’ for development within the Parramatta CBD under a Local Environmental Plan by means of a separate planning proposal for the Parramatta CBD and an accompanying Infrastructure Strategy and Development Guideline; (ii) the Monetary Contribution for this agreement has been calculated on the basis of a monetary rate per square metre of land (Value Sharing Rate), being a percentage of land value uplift (as defined in the Council’s Planning Agreements Policy); and (iii) the Value Sharing Rate is being applied consistently by Council at the date of this agreement, but may change when the planning proposal for the Parramatta CBD is finalised. (b) If, at the time the first second instalment of the Monetary Contribution becomes payable (Payment Date): (i) the Value Sharing Rate adopted by Council is less than the rate applied under this agreement (being $150 per square metre); and (ii) as a consequence of the reduction of the Value Sharing Rate, Council amends the Development Contributions Plan, or adopts a new Development Contributions Plan that applies to the Land, so that the Development Contributions payable for the Development are higher, per square metre or other basis of measurement used to determine the quantum of contributions, than they would otherwise have been as at the date of this agreement; then, within 20 Business Days of either party making a request for review, the Council and the Developer must meet to review this agreement in accordance with the principles in clause 9.2(c) and using their best endeavours and in good faith. (c) If a review of this agreement is carried out under clause 9.2

Change to Development Contributions. (a) The parties acknowledge that as at the date of this agreement: (i) : Council is proposing to adopt a ‘value sharing approach’ for development within the Parramatta CBD under a Local Environmental Plan by means of a separate planning proposal for the Parramatta CBD and an accompanying Infrastructure Strategy and Development Guideline; (ii) Guideline in respect of residential development; the Monetary Contribution for this agreement has been calculated on the basis of a monetary rate per square metre of land (Value Sharing Rate), being a percentage of land value uplift (as defined in the Council’s Planning Agreements Policy); and (iii) and the Value Sharing Rate is being applied consistently by Council at the date of this agreement, but may change when the planning proposal for the Parramatta CBD is finalised. (b) If, at the time the first instalment of the Monetary Contribution becomes payable (Payment Date): (i) ): the Value Sharing Rate adopted by Council is less than the rate applied under this agreement (being $150 per square metre); and (ii) and as a consequence of the reduction of the Value Sharing Rate, Council amends the Development Contributions Plan, or adopts a new Development Contributions Plan that applies to the Land, so that the Development Contributions payable for the Development are higher, per square metre or other basis of measurement used to determine the quantum of contributions, than they would otherwise have been as at the date of this agreement; then, within 20 Business Days of either party making a request for review, the Council and the Developer Parties must meet to review this agreement in accordance with the principles in clause 9.2(c) and using their best endeavours and in good faith. (c) If a review of this agreement is carried out under clause 9.2

Change to Development Contributions. (a) The parties acknowledge that as at the date of this agreement: (i) Council is proposing to adopt a ‘value sharing approach’ for development amend the LEP to address the provision of community infrastructure within the Parramatta CBD under a Local Environmental Plan by means of a separate planning proposal for the Parramatta CBD and to adopt an accompanying Infrastructure Strategy and Development Guideline; (ii) the Monetary Contribution for this agreement has been calculated on the basis of a monetary rate per square metre of land (Value Sharing Community Infrastructure Rate), being a percentage of land value uplift (as defined in the Council’s Planning Agreements Policy); and (iii) the Value Sharing Community Infrastructure Rate is being applied consistently by Council at the date of this agreement, but may change when the planning proposal for the Parramatta CBD is finalised. (b) If, at the time the first instalment of the Monetary Contribution becomes payable (Payment Date): (i) the Value Sharing Community Infrastructure Rate adopted by Council is less than the lowest rate that can be applied under this agreement (being $150 per square metre); and (ii) as a consequence of the reduction of the Value Sharing Community Infrastructure Rate, Council amends the Development Contributions Plan, or adopts a new Development Contributions Plan that applies to the Land, so that the Development Contributions payable for the Development are higher, per square metre or other basis of measurement used to determine the quantum of contributions, than they would otherwise have been as at the date of this agreement; then, within 20 Business Days of either party making a request for review, the Council and the Developer Landowner must meet to review this agreement in accordance with the principles in clause 9.2(c) and using their best endeavours and in good faith.

Change to Development Contributions. (a) The parties acknowledge that as at the date of this agreement: (i) Council is proposing to adopt a ‘value sharing approach’ for development within the Parramatta CBD under a Local Environmental Plan by means of a separate planning proposal for the Parramatta CBD and an accompanying Infrastructure Strategy and Development Guideline; (ii) the Monetary Contribution for this agreement has been calculated on the basis of a monetary rate per square metre of land (Value Sharing Rate), being a percentage of land value uplift (as defined in the Council’s Planning Agreements Policy); and (iii) the Value Sharing Rate is being applied consistently by Council at the date of this agreement, but may change when the planning proposal for the Parramatta CBD is finalised. (b) If, at the time the first instalment of the Monetary Contribution becomes payable (Payment Date): (i) the Value Sharing Rate adopted by Council is less than the rate applied under this agreement (being $150 per square metre); and (ii) as a consequence of the reduction of the Value Sharing Rate, Council amends the Development Contributions Plan, or adopts a new Development Contributions Plan that applies to the Land, so that the Development Contributions payable for the Development are higher, per square metre or other basis of measurement used to determine the quantum of contributions, than they would otherwise have been as at the date of this agreement; then, within 20 Business Days of either party making a request for review, the Council and the Developer must meet to review this agreement in accordance with the principles in clause 9.2(c) and using their best endeavours and in good faith. (c) If a review of this agreement is carried out under clause 9.2

Change to Development Contributions. (a) The parties acknowledge that as at the date of this agreement: (i) Council is proposing to adopt a ‘value sharing approach’ for development amend the Local Environmental Plan to address the provision of community infrastructure within the Parramatta CBD under a Local Environmental Plan by means of a separate planning proposal for the Parramatta CBD and to adopt an accompanying Infrastructure Strategy and Development Guideline; (ii) the Monetary Contribution for this agreement has been calculated on the basis of a monetary rate per square metre of land (Value Sharing Community Infrastructure Rate), being a percentage of land value uplift (as defined in the Council’s Planning Agreements Policy); and (iii) the Value Sharing Community Infrastructure Rate is being applied consistently by Council at the date of this agreement, agreement but may change when the planning proposal for the Parramatta CBD is finalised. (b) If, at the time the first instalment of the Monetary Contribution becomes payable (Payment Date): (i) the Value Sharing Community Infrastructure Rate adopted by Council is less than the rate applied under this agreement (being $150 per square metre); and (ii) as a consequence of the reduction of the Value Sharing Community Infrastructure Rate, Council amends the Development Contributions Plan, or adopts a new Development Contributions Plan that applies to the Land, so that the Development Contributions payable for the Development are higher, per square metre or other basis of measurement used to determine the quantum of contributions, than they would otherwise have been as at the date of this agreement; then, within 20 Business Days of either party making a request for review, the Council and the Developer must meet to review this agreement in accordance with the principles in clause 9.2(c) and using their best endeavours and in good faith.

Change to Development Contributions. (a) The parties acknowledge that as at the date of this agreement: (i) Council is proposing to adopt a ‘value sharing approach’ for development amend the LEP to address the provision of community infrastructure within the Parramatta CBD under a Local Environmental Plan by means of a separate planning proposal for the Parramatta CBD and to adopt an accompanying Infrastructure Strategy and Development Guideline; (ii) the Monetary Contribution for this agreement has been calculated on the basis of a monetary rate per square metre of land (Value Sharing the Community Infrastructure Rate), being a percentage of land value uplift (as defined in the Council’s Planning Agreements Policy); and (iii) the Value Sharing Rate community infrastructure rate of $150 is being applied consistently by Council at the date of this agreement, but may change when the planning proposal for the Parramatta CBD is finalised. (b) If, at the time the first instalment of the Monetary Contribution becomes payable (Payment Date): (i) the Value Sharing Community Infrastructure Rate adopted by Council is less than the lowest rate that can be applied under this agreement (being $150 per square metre); and (ii) as a consequence of the reduction of the Value Sharing Community Infrastructure Rate, Council amends the Development Contributions Plancontributions plan within the meaning of the Act applying to the Land, or adopts a new Development Contributions Plan contributions plan that applies to the Land, so that the contributions payable under s7.11 or 7.12 of the Act pursuant to that contributions plan (Development Contributions payable Contributions) for the Development are higher, per square metre or other basis of measurement used to determine the quantum of contributions, than they would otherwise have been as at the date of this agreement; , then, within 20 Business Days of either party the Developer making a request for review, the Council and the Developer must meet to review this agreement in accordance with the principles in clause 9.2(c) and using their best endeavours and in good faith.