21 PARRAMATTA ROAD HOMEBUSH 2140 Hyside Projects Subtwo Pty Ltd Planning Agreement

The Developer is seeking to construct an additional 17 storeys (comprising of approximately 148 residential apartments) above an 8-storey mixed-use building, known as “Building B” approved under DA2014/35 on the Subject Land, generally in accordance with DA/2021/327 which has been lodged with Strathfield Council (Proposed Development).

The Planning Agreement as varied by the Variation of Planning Agreement provides that the Developer will make a monetary contribution of $10,000 for each Dwelling in the Development (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 7.1 of Strathfield Local Environmental Plan 2012 (LEP).

The Planning Agreement required the Developer to pay an instalment of the Development Contribution prior to the issue of each relevant occupation certificate in accordance with Schedule 4 to the Planning Agreement.

The Developer is seeking to vary the Planning Agreement to change the timing for the payment of the Development Contribution, including to provide for a discount of the amount payable as the Development Contribution if payment is made before a certain date and to update the Planning Agreement to ensure compliance with the Environmental Planning and Assessment Act 1979.

In accordance with Schedule 4 of the Planning Agreement as varied by the Variation of Planning Agreement, the Developer will pay the Development Contribution at the following times:
i. prior to the issue of the first Construction Certificate in relation to the Development; or
ii. if no Construction Certificate is required, before the commencement of any work
authorised by a Development Consent to the Development; or
iii. if the first Construction Certificate has been issued, prior to the issue of the first
Occupation Certificate for a building or part of a building in the Development.

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

The objective of the Planning Agreement as varied by the Variation of Planning Agreement is to facilitate the delivery of the contributions from the Developer towards the provision of designated State public infrastructure referred to in clause 7.1 of the LEP.