We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Monetary Contributions Sample Clauses

Monetary Contributions. 11.1 A monetary contribution is made for the purposes of this Agreement when cleared funds are deposited by means of electronic funds transfer into a bank account nominated by the Council. 11.2 The Developers are to give the Council not less than 2 business days written notice of: 11.2.1 their intention to pay a monetary contribution, 11.2.2 the Public Facility to which the monetary contribution relates, and 11.2.3 the amount proposed to be paid. 11.3 The Developers are not required to pay a monetary contribution under this Agreement unless the Council, after having received the Developers’ notice under clause 11.2, has given to the Developers a tax invoice for the amount of the contribution that the Developers intend to pay. 11.4 The Developers are not in breach of this Agreement if they fail to pay a monetary contribution at the time required by this Agreement by reason only of the Council’s failure to give to the Developers a tax invoice in relation to the amount proposed to be paid by the Developers.
Monetary Contributions. As per the Environmental Planning and Assessment (Levies – City of Sydney) Direction dated 24 November 2021, the City of Sydney must not impose as a condition of development consent a levy under section 7.12 of the Environmental Planning and Assessment Act 1979 (EP&A Act) that exceeds 3.0% (for development with a cost of works greater than $1 million) if the development application is made on or after 1 July 2022. The proposed offer commits to the payment of a monetary contribution towards the cost of local infrastructure equivalent to 3.0% of the cost of the proposed over station development per site which will be the subject of future State Significant Development Applications (SSDAs), calculated in accordance with the Central Sydney Development Contributions Plan 2020 (the Contribution Plan). The payment of this contribution per site is proposed to be on or before the date of issue of the first Construction Certificate relating to the new development on that site (excluding demolition, excavation and early works). No further contributions pursuant to section 7.11 or section 7.12 of the EP&A Act or under the City of Sydney Act 1988 will be payable.
Monetary Contributions. (a) In respect of any part of the Development on Development Lots 104, 105, 203, 204, 205 and 206, and subject to clause 4.2, the Developer is to pay to the Council monetary Contributions in an amount equivalent to, and in the same manner as, any contributions that could have been required to be paid under s94 or s94A of the EP&A Act in respect of that part of the Development but for the operation of this Deed. (b) Except as provided in clause 3.3(c) and clause 4.2, any benefits provided by the Developer in accordance with this Deed are not to be taken into consideration in determining a development contribution under s94 or s94A of the EP&A Act. (c) The amount of S94 or S94A Equivalent Contributions that is required to be paid under this Deed is to be reduced in accordance with clause 4.2. (d) Any monetary Contributions payable under this clause 3.3 in respect of a Development Lot must be paid by the Developer to Council (by bank cheque) prior to the issue of a Construction Certificate for work on that Development Lot in Stage 2. Draft (e) In this Deed, a reference to the ‘Developer’ in respect of a right or obligation in relation to a S94 or S94A Equivalent Contribution is a reference to the owner from time to time of the Development Lot to which that right or obligation applies.
Monetary Contributions. HBB will provide a security bond or bank guarantee equal to the full amount of monetary contributions.
Monetary ContributionsThe Developer must make the Monetary Contributions to the Council in accordance with Item C in Table 1 of Schedule 4.
Monetary Contributions. (a) The Developer will pay to Council, the Monetary Contributions set out in Schedule 1 or an amount calculated in accordance with the following formula, whichever is the greater: amount of monetary contribution in Schedule 1 The CPI at the time of payment The CPI at the date of this agreement (b) The Monetary Contributions must be paid to Council at the times specified in Column 4 of Schedule 1 in respect of each item of Monetary Contributions (c) The Monetary Contributions must be paid by deposit by means of electronic funds transfer into an account specified by Council. (d) The Monetary Contributions will be taken to have been made when the funds have been deposited in the Council’s bank account. (e) The parties agree and acknowledge that each item of the Monetary Contributions will be used by the Council for the public purpose set out in Column 2 of Schedule 1 in respect of that item.
Monetary Contributions. 5.1 If the Council carries out the Intersection Works, upon completion of construction of the Intersection Works, the Landowner must pay the Monetary Contributions calculated in accordance with clauses 5.2 and 5.3 to Council in five (5) instalments, in the amounts provided for in column 2 of Schedule 2 and at the times specified in column 3 of Schedule 2. 5.2 The Monetary Contributions payable by the Landowner to the Council is the lesser of (subject to CPI): (a) 55% of the Actual Intersection Costs; and (b) $990,000 (the Cap). 5.3 Where this Agreement provides that an amount is subject to CPI, then the amount will be increased in accordance the following formula: A = B x C/D Where: A = the indexed amount at the time the payment is to be made. B = the contribution amount rate stated in clause 5.2 of this Agreement. C = the CPI most recently published before the date of payment. D = in respect of the Actual Intersection Costs (in clause 5.2(a) of this Agreement), the CPI most recently published before the date the Intersection Works are completed; in respect of the Cap (in clause 5.2(b)) of this Agreement) the CPI most recently published before this Agreement operates in accordance with clause 4.1. For the avoidance of doubt, if C is less than D (that is, if there has been deflation over the relevant period), then A will not change. 5.4 The Council shall utilise the Monetary Contributions to recoup part of the costs of the Public Purpose. 5.5 For the avoidance of doubt, the Landowner is only required to pay the Monetary Contributions under this Agreement if and when the Council completes the construction of the Intersection Works.
Monetary ContributionsThe Developer will make a total monetary contribution of up to $8,000,000 to Council calculated by reference to the Gross Floor Area of each building in the Development above the threshold of 72,000 m2 of Gross Floor Area in the Development.
Monetary Contributions. ‌ 5.1.1. The Developer will pay to the Council the Monetary Contributions referred to in the table below: $7,000.00 per annum. 5.1.2. Monetary Contributions are payable by the Developer to Council in accordance with the table set out below: $7,000.00 per annum Annually on the commencement date
Monetary Contributions. 8.1 The Developers acknowledge that, following the commencement of this Agreement, the Council may adopt a Contributions Plan which applies to the Land and pursuant to which the Council may impose a requirement that the applicant for the Development Consent: 8.1.1 makes a Development Contribution in respect of: (a) the Old Wallgrove Road Upgrade, unless the Roads and Traffic Authority becomes the roads authority for that road within the meaning of the Roads Act 1993 and assumes responsibility for the cost of the Upgrade; and (b) the Archbold Road Upgrade, unless the Roads and Traffic Authority becomes the roads authority for that road within the meaning of the Roads Act 1993 and assumes responsibility for the cost of the Upgrade; and (c) the Link Road Upgrade; and (d) trunk drainage, detention basins and riparian zones required in relation to development on the land covered by the Precinct Plan, or 8.1.2 pays a levy, pursuant to section 94A(1) of the Act. 8.2 Subject to clauses 8.3 and 15, if prior to the release of the subdivision certificate for any stage of the development the Council has adopted a Contributions Plan authorizing contributions of the kind referred to in clause 8.1.1 and has given written notice to the Developers of the amount of the contribution calculated in accordance with that Plan payable in relation to that stage of the Development, the Developers must, prior to the release of the subdivision certificate for that stage, pay to the Council that monetary contribution in relation to the Public Facilities listed in sub-clause 8.1.1 as if the Development is development to which that Contributions Plan applies. 8.3 The provisions of clauses 8.3.1 – 8.3.9 apply if, within 30 days of the Council adopting the Contributions Plan referred to in clause 8.2 and providing the Developers with a written notice of the amount of the contribution payable under that clause, the Developers serve on the Council a notice disputing the amount of any monetary contribution payable under that clause in respect of one or more of the public facilities referred to in clause 8.1.1. 8.3.1 The Developers are to comply with clause 8.2 in so far as it relates to the payment of a monetary contribution towards the cost of the provision of a Public Facility referred to in that clause that is not the subject of the notice referred to in clause 8.3. 8.3.2 Within 10 business days of service of a notice referred to in clause 8.3, the Parties or their authorized representati...