Randwick Developer Contributions Conditions

23. Kensington and Kingsford Town Centre Affordable Housing Contributions An affordable housing contribution is required to be paid to Council, calculated in accordance with Division 2 of RLEP 2012 and the Kensington and Kingsford Town Centres Affordable Housing Plan adopted on 10 December 2019 (as amended). The monetary contribution for the residential TFA is to be calculated in accordance with the equivalent monetary value of $731.25. The contribution period (for which the equivalent monetary value applies) is 1 July 2025 until 31 December 2025. Payment of the contribution shall made be prior to the issue of the first Construction Certificate, to the satisfaction of the Manager…

12. Based on the development cost of $250,422,619.70 the following monetary levy (representing 2.5% of the development cost) must be paid to Council: $6,260,565.49 prior to the release of the first Crown Certificate. The levy must be paid in cash, bank cheque or by credit card prior to a Crown Certificate being issued for the proposed development. The development is subject to an index to reflect quarterly variations in the Consumer Price Index (CPI) from the date of Council’s determination to the date of payment. Please contact Council on telephone 9093 6000 or 1300 722 542 for the indexed contribution amount prior to payment. To calculate the indexed levy, the following formula must be…

9. Voluntary Planning Agreement Contributions paid to Council pursuant to the Voluntary Planning Agreement executed in accordance with Condition A1 are to be taken into consideration in determining the development contributions payable pursuant to this condition of this consent. Condition Reason: To comply with the condition of consent.