Effect of the Draft Planning Agreement. The draft Planning Agreement:
Effect of the Draft Planning Agreement. The Draft Planning Agreement: relates to the carrying out by the Developer of any development on the Land to which it applies that is permissible on the Land, partly excludes the application of s7.11 of the Act to the Development (as defined in clause 1.1 of the Draft Planning Agreement), does not exclude the application of s7.12 or s7.24 of the Act to the Development, requires monetary Development Contributions of a specified minimum amount to be made towards community, cultural and emergency services, open space and roads and administration, requires the carrying out of specified Works by the Developer for the purposes of providing community and cultural facilities and services, open space, roads and other public purposes, requires the dedication of specified land to the Council by the Owner on which some Works will be situated, allows offsets against specified monetary Development Contributions, in consideration of the benefits provided to the Council by the Developer and the Owner under the agreement, requires the Council to apply monetary Development Contributions made under the agreement towards the specified purpose for which they were made and at the location, in the manner and to the standard (if any) specified in the agreement, imposes obligations on the Developer in relation to the carrying out of specified Works, the handing over of those Works to the Council and the rectification of defects in those Works, requires the Developer and Owner to provide the Council with security for legal costs in the event that the Council is required to enforce the terms of the agreement, requires the Developer and Owner to grant the Council a charge over specified land as security for the performance of the agreement, is to be registered on the title to the Land, imposes restrictions on the Parties transferring the Land or part of the Land or assigning an interest under the agreement, provides two dispute resolution methods for a dispute under the agreement, being expert determination and mediation, provides that the agreement is governed by the law of New South Wales, and provides that the A New Tax System (Goods and Services Tax) Act 1999 (Cth) applies to the agreement.
Effect of the Draft Planning Agreement. The Draft Planning Agreement: • relates to the carrying out by the Developer of development on the Land • includes the application of s7.11 of the Act to the Development • includes the application of s7.12 of the Act to the Development • includes the application of s7.24 of the Act to the Development • requires monetary Development Contributions • is to be registered on the title to the Land • imposes restrictions on the Parties transferring the Land or part of the Land or assigningan interest under the agreement • provides dispute resolution for a dispute under theagreement. The Draft Planning Agreement: • promotes and co-ordinates of the orderly and economic use and development of the Land to which the agreement applies • provides and co-ordinates the provision of public infrastructure and facilities in connection with the Development • provides increased opportunity for public involvement and participation in environmental planning and assessment of the Development.
