65-79 RAILWAY ROAD WARNERVALE 2259 AID Investment Pty Ltd Planning Agreement

The parties to the Planning Agreement are the Minister administering the Environmental Planning and Assessment Act 1979 (ABN 20 770 707 468) (the Minister) and AID Investment Pty Ltd (ACN 615 535 647) (the Developer).

The Planning Agreement applies to Lot 1 in Deposited Plan 940496 known as 65-79 Railway Road, Warnervale 2259 (Subject Land).

The Developer is seeking to subdivide the Subject Land, in two stages, into approximately 19 lots, comprising of 17 residential lots, (of which one (1) lot is proposed for multi dwelling housing development consisting of 22 townhouses) and two (2) residue lots containing a dam and vegetation, and associated infrastructure, generally in accordance with the plan in Schedule 7 and DA DA/377/2021 lodged with Central Coast Council. (Proposed Development). The Developer has made an offer to the Minister to enter into the Planning Agreement in connection with the Proposed Development. An indicative plan of the Proposed Development is provided within the draft Planning Agreement and Explanatory Note.

The Planning Agreement provides that the Developer will make a monetary contribution of $115,893 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 Wyong Local Environmental Plan 2013 (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. No relevant capital works program by the Minister is associated with the Planning Agreement.

The Planning Agreement does not specify requirements that must be complied with prior to the issue of a construction certificate or an occupation certificate. The Planning Agreement requires an instalment of the Development Contribution to be paid prior to the issue of the relevant subdivision certificate and therefore contains a restriction on the issue of a subdivision certificate within the meaning of section 6.15(1)(d) of the Act.