109 MINNESOTA ROAD HAMLYN TERRACE 2259 Stannic Securities Pty Lyd Planning Agreement

The Developer is seeking to subdivide the Subject Land into approximately 125 residential lots and construct associated roads and infrastructure, to give effect generally to the plan at the end of the explanatory note.

Stage 1 which is broadly in accordance with Development Application DA/3743/2022 lodged with Central Coast Council and any Development Consent granted to that application, including the subdivision of part of the Land to create approximately 41 residential lots and associated roads and infrastructure.

Stage 2, includes subdivision of the remainder of the Land to create approximately 84 residential lots, two (2) residue lots, one (1) drainage lot and associated roads and infrastructure, proposed to be carried out by the Developer in accordance with further Development Application(s) for that part of the Land.

The Planning Agreement provides that the Developer will make a monetary contribution of $115,893.12 per hectare of net developable area (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 6.1 of the Central Coast Local Environmental Plan 2022 (LEP).

An instalment of the Development Contribution will be payable prior to the issue of each relevant subdivision 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 6.1 of the LEP.