2017/8809 - Marsden Park Amended Stockland Planning Agreement

As Stockland have acquired land from Winten Developments Pty Ltd, Stockland has agreed to provide the Road Improvement Works Contribution previously required under the Winten Planning Agreement.

The Amended Agreement provides that the Developer will make a development contribution by providing:

• the Initial Road Improvement Works Contribution (noting that this contribution has been provided);

• the Final Road Improvement Works Contribution, comprising the:

o Garfield Road West Extension Works as generally set out in the Road Works Plan attached to the Amended Agreement;

o Precinct Road Works Cash Contribution being a monetary contribution previously paid towards the Developer’s Special Infrastructure Contribution liability for the delivery by RMS of road works within the Marsden Park Precinct in the amount of $7,309,928.86 (noting that this contribution has been provided);

o Access Road 1 Cash Contribution, including a minimum cash contribution of $8 million and an additional cash contribution calculated in accordance with the Amended Agreement;

• Education Land Contribution comprising the dedication of approximately 3 hectares of the Land to the Minister, identified as the “Northern Primary School Site”; and

• Electricity Substation Land comprising of the dedication of approximately 1 hectare of the Land to the Minister (noting that this contribution has already been provided).

The objective of the Amended Agreement is to facilitate the Developer’s the delivery of the Development Contribution.