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.
Appears in 2 contracts
Sources: Planning Agreement, Planning Agreement