SVPA2019-9 Wallalong Land Developments Pty Ltd Planning Agreement

The draft deed of amendment provides details on proposed amendments to the planning agreement 2011/4221 - Catherine Hill Bay (Middle Camps Southern Estates) executed on 22 March 2012, between the Minister for Planning, Minister for Environment and Coal and Allied Operations Pty Ltd and Catherine Hill Bay Land Pty Ltd, relating to contributions for designated State public infrastructure for development proposed by the Former Landowner on Flowers Drive, Catherine Hill Bay.
The Amended Planning Agreement provides for:
1.Substitution of the requirement that the Landowner undertake treatment of aquatic weed infestation on part of the Subject Land, with a monetary contribution from the Landowner (to be paid by the Former Landowner) in the amount of $80,000 upon execution of the Deed of Amendment to the Planning Agreement.
2.Upon receipt of the $80,000 monetary contribution, the Environment Minister is to return to the Former Landowner the original bank guarantee in the amount of $280,000 provided by the Former Landowner under the Original Planning Agreement.
3.Bank guarantees to be provided by the Landowner to the Planning Minister in the amount of $21,754.89 and $739,423.50 to secure the Landowner’s obligations to pay the Infrastructure Contribution Amount and the Road Contribution, respectively, reflecting a 50% reduction in the security required.