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Emerald Hills

2015/6929 1150 Camden Valley Way, Leppington, Hazcorp Developments Pty Ltd, Taurus Development Company Pty Ltd and D & AI Pty Ltd

The parties to the Planning Agreement are Hazcorp Developments Pty Ltd and Taurus Development Company Pty Ltd trading as Emerald Hills Estate (collectively referred to as the Developer), D & AI Pty Ltd as Trustee for the D & AI Unit Trust (the Landowner), and the Minister for Planning (the Minister).

The Planning Agreement applies to:

- Lot 10 in DP 1173819;
- Lot 10 in DP 1161557; and
- Lot 1 in DP 301830.

The Land is located at 1150 Camden Valley Way, Leppington.

The Planning Agreement provides that the Developer will make a monetary contribution of $158,244 per hectare (as indexed under CPI in accordance with the Planning Agreement) of Net Developable Area for the purpose of the provision of designated State public infrastructure.

The amount of the monetary contribution will be paid in instalments calculated on the basis of an estimate of the Net Developable Area for each Subdivision Certificate application, Strata Certificate application or Construction Certificate application (Relevant Application) or, where a Relevant Application is not required for development, the Net Developable Area of the land the subject of that particular component of the Development (Relevant Development).

The instalments are payable:
a) prior to the issue of the first certificate for a Relevant Application for each Stage of the Development; or
b) before the Relevant Development is commenced or an application for a Complying Development Certificate for the Relevant Development is made for each Stage of the Development, as set out in Schedule 4 to the Planning Agreement.

The Developer must dedicate the Education Land and may elect to dedicate the Road Widening Land in full or partial discharge of the Developer’s liability to provide all or part of a monetary Contribution Amount under the Planning Agreement. The Education Land Credit and Road Widening Land Credit (if any) given to the Developer for the dedication of the Education Land and Road Widening Land will be the market value of that land as determined under clause 5.2 of Schedule 4 (for the Road Widening Land) and clause 6.2 of Schedule 4 (for the Education Land) of the Planning Agreement.

If the Road Widening Land (where an election to dedicate is made) and/or Education Land are not dedicated by the Developer, the Minister may compulsorily acquire the Road Widening Land and/or Education Land (as appropriate) for the amount of $1.00 each. If this occurs, the Developer will be entitled to a credit (determined in accordance with Schedule 4 of the Planning Agreement) for the market value of the land compulsorily acquired.

The Developer may also elect as to whether it will carry out specified Road Works in lieu of payment of all or part of a monetary contribution Amount under the Planning Agreement. The Minister may, in the Minister’s absolute discretion, agree to accept the carrying out of the Road Works in full or partial discharge of the Developer’s obligation to provide a monetary Contribution Amount.

In the event that the Developer elects to carry out the Road Works, it must also dedicate the Road Widening Land, and if the value of the Road Works and Road Widening Land together with the value of the Education Land exceeds the amount of the monetary Contribution Amounts that would otherwise have been payable under the Planning Agreement, the Developer is entitled to a credit for that additional amount (Excess Contributions Credit).

The Developer or a Related Body Corporate may then use the Excess Contributions Credit to satisfy any obligation to make a development contribution relating to the provision of Designated State Public Infrastructure on any land in a Growth Centre owned by the entity seeking to use that Excess Contributions Credit.
Attachments & Resources
VPA location details
Location Emerald Hills
Local Government Area Camden
Notification location The Information Centre - Ground level, 23-33 Bridge Street, Sydney.
Key dates and other information
Status Executed
Notification start date 11/02/2015
Notification end date 12/03/2015
Executed 04/05/2015
VPA operational (Yes/No) Yes
Do satisfactory arrangements apply Yes
Developer Hazcorp Developments Pty Ltd and Taurus Development Company Pty Ltd trading as Emerald Hills Estate (collectively referred to as the Developer), D & AI Pty Ltd as Trustee for the D & AI Unit Trust (the Landowner)