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Box Hill North - EJ Cooper & Son Pty Limited

2015/6924 Box Hill North Planning Agreement

The Developer has sought an amendment to the Hills Local Environmental Plan 2012 (LEP) to rezone the Land so that the Developer may later apply for the approval of development generally for the purposes of:

a) subdivision of the Land into relevant parcels;
b) the erection of approximately 4,100 dwellings;
c) the establishment of a town centre;
d) the construction of new roads and infrastructure;
e) a primary school site on the Education Land;
f) sporting fields and parks;
g) environmental conservation; and
h) ancillary and associated development and uses,
and including all demolition works, site preparation and establishment works, subdivisions, and construction works required, as well as the relevant land uses (Proposed Development).

Pursuant to the Planning Proposal lodged by the Developer with the Council, the Developer has sought:

• the rezoning of the Land from RU6 - Transition to primarily R1 - General Residential, R2 – Low Density Residential, R3 – Medium Density Residential, R4 – High Density Residential, B2 – Local Centre, E4 – Environmental Living and RE1 – Public Recreation; and
• generally, the release of the Land for the development of a mix of residential, commercial, environmental, town centre and recreational uses (Planning Proposal).

The Planning Agreement provides that the Developer will make a total Monetary Contribution of $16,730,000 (which is to be indexed to CPI in accordance with the Planning Agreement) in relation to the Land, for the purpose of the provision of designated State public infrastructure.

The Proposed Development has been divided into nine Stages under the Planning Agreement. The Planning Agreement requires the Monetary Contribution to be paid in instalments calculated in accordance with the indicative area of each Stage.
An instalment is payable at each Stage of the Proposed Development.

The Developer must also deliver the Education Land Contribution to the Minister. The Developer must transfer the Education Land to the Minister by the Education Land Dedication Date, which in general terms means before the issue of a Subdivision Certificate for the creation of the 2,000th Residential Lot on the Land or before the issue of a Plan of Subdivision containing the Nominated School Site, or any part of the Nominated School Site, whichever is the earlier.

If the Developer does not dedicate the Education Land by the Education Land Dedication Date, the Minister may (without limiting any of the Minister's other rights under the Planning Agreement) elect to compulsorily acquire the Education Land. If the Education Land is owned by the Developer, the Developer consents to the acquisition of the land for the amount of $1.00.

Upon execution of the Planning Agreement, the Developer is required to provide a Bank Guarantee with a total face value equivalent to the sum of:
• the Monetary Contribution; and
• 120% of the Education Land Value as determined by the valuation process set out in Schedule 5.

The Bank Guarantee is provided to secure the provision of the Monetary Contribution and the transfer of the Education Land in accordance with the Planning Agreement.

The Developer must not sell, transfer, assign or dispose of the whole or any part of the Land or its interests in the Land unless the proposed transferee signs a deed in favour of the Minister agreeing to comply with the obligations of the Developer under the Planning Agreement which relate to the land proposed to be transferred.

Attachments & Resources
VPA location details
Location Box Hill North - EJ Cooper & Son Pty Limited
Local Government Area The Hills Shire Council
Notification location Information Centre - Ground level, 23-33 Bridge Street, Sydney
Key dates and other information
Status Executed
Notification start date 04/02/2015
Notification end date 05/03/2015
Executed 06/05/2015
VPA operational (Yes/No) Yes
Developer E.J Cooper & Son Pty Limited (ACN 000 269 750)