Application of S7. 11 and s7.12 of the Act
Application of S7. 11 Section 7.11 of the Act is not excluded. Item 5 Application of S7.12 Section 7.12 of the Act is not excluded. Item 6 Application of S7.24 Section 7.24 of the Act is not excluded. Item 7 Whether the Benefits under this Deed are to Taken in Consideration in determining a Development Contribution under s7.11 The benefits under this Deed are not to be taken into consideration in determining a Development Contribution under s7.11 of the Act to the Development. Item 8 Indexation of Contribution Values N/A Item 9 Indexation of monetary Development Contributions The monetary Development Contributions specified in Schedule 2 of this Deed will be indexed quarterly from the date of this Deed (the “Indexation Date”). This will be done in accordance with the following formula: Indexed monetary contribution = A x B/C Where A is the value of the monetary Development Contribution applicable immediately before the Indexation Date B is the CPI last published at the quarter ending immediately before the date of payment; and C is the CPI last published at the quarter ending immediately before the Indexation Date Item 10 Access to Council owned or controlled land N/A Item 11 Defects Liability Period N/A Item 12 Security $116,293 Item 13 Obligations to which Security Relates Item 1 of the monetary Development Contributions under Schedule 2 of this Deed. Item 14 Timing of Security Within 14 days of the date this Deed commences. Item 15 Indexation of Security In accordance with the formula in Item 9 Item 16 Costs See Clause 44 Item 17 Review of Deed Every 2 years. Schedule 2 (Clause 9) Development Contributions Table Column 1 Column 2 Column 3 Column 4 Item/ Contribution Public Purpose Xxxxxx & Extent Timing Total of $1,162,929 payable in the following three (3) instalments:
Application of S7. 11 Section 7.11 of the Act is not excluded Item 5 Application of S7.12 Section 7.12 of the Act is not excluded Item 6 Application of S7.24 Section 7.24 of the Act is not excluded Item 7 Whether the Benefits under this Deed are to Taken in Consideration in determining a Development Contribution under s7.11 The benefits under this Deed are not to be taken into consideration in determining a Development Contribution under s7.11 of the Act for the Development.
Application of S7. 11 [Insert ‘Section 7.11 of the Act is excluded’ or ‘Section 7.11 of the Act is not excluded’ or If the Deed only partially excludes the application of s7.11 the particulars of the exclusion must be provided] Item 5 Application of S7.12 [Insert ‘Section 7.12 of the Act is excluded’ or ‘Section 7.12 of the Act is not excluded’ or If the Deed only partially excludes the application of s7.12 the particulars of the exclusion must be provided]
Application of S7. 24 Section 7.4 of the Act is not excluded [or insert ‘Section 7.4 of the Act is excluded’, but only if the Minister or a development corporation designated by the Minister has given approval under s7.4(5A) to such an exclusion.] Item 7 Whether the Benefits under this Deed are to Taken in Consideration in determining a Development Contribution under s7.11 [If s7.11 is excluded, then insert ‘N/A’] [If s7.11 is not excluded, then insert ‘The benefits under this Deed are to be taken into consideration in determining a Development Contribution under s7.11 of the Act to the Development’ or ‘The benefits under this Deed are not to be taken into consideration in determining a Development Contribution under s7.11 of the Act to the Development’] Item 8 Indexation of Contribution Values [Specify index; otherwise insert ‘N/A’] Item 9 Indexation of Monetary Development Contributions [Specify index; otherwise insert ‘N/A’] Item 10 Access to Council owned or controlled land [Insert title details of Council owned or controlled land which the Developer may enter, occupy and use for the purpose of performing its obligations under this Deed.]
Application of S7. 11 of the Act to the Development The Developer will make Contributions under Section 7.11 of the Act for approximately eighteen (18) residential lots as they are subdivided in accordance with Council’s adopted Developer Contributions Plan, 2012 as well as for the fourteen (14) affordable Community Title lots .
Application of S7. 11 and s7.12 of the Act 24.1 This document excludes the operation of Section 7.11 and Section 7.12 of the Act (Statutory Contributions) to the Proposed Development.
Application of S7. 11 Section 7.11 of the Act is not excluded from applying to the Development by this Deed, noting that the Infrastructure Approval does not impose a condition under that section.
Application of S7. 12 Section 7.12 of the Act is not excluded from applying to the Development by this Deed, noting that Infrastructure Approval provides that section 7.12 contributions will not be payable unless the Deed is not entered into.
Application of S7. 24 Section 7.24 of the Act is not excluded from applying to the Development by this Deed.
