1 SIMPSON STREET DUNDAS VALLEY 2117 Harutoonian Properties Pty Ltd Planning Agreement

The Developer is seeking to demolish existing structures on the Subject Land and construct two residential flat buildings (of approximately six (6) storeys) containing approximately 48residential units, communal open space, two levels of basement parking, and associated infrastructure works, generally in accordance with DA/373/2023 lodged with Parramatta City Council (Proposed Development).

The Planning Agreement provides that the Developer will make a monetary contribution of $10,000 per dwelling (subject to indexation in accordance with the Planning Agreement) (Development Contribution) for the purposes of the provision of designated State public infrastructure within the meaning of clause 6.14 of Parramatta Local Environmental Plan 2023 (LEP).

An instalment of the Development Contribution will be payable prior to the issue of each relevant occupation certificate in accordance with Schedule 4 to the Planning Agreement.

The Developer is required to provide a $20,000 bank guarantee in accordance with Schedule 5 to the Planning Agreement.

The objective of the Planning Agreement is to facilitate the delivery of the Developer’s contributions towards the provision of designated State public infrastructure referred to in
clause 6.14 of the LEP.