Monetary development contribution Sample Clauses
A monetary development contribution clause requires a party, typically a developer, to pay a specified sum of money to a local authority or governing body as a condition of development approval. This payment is often used to fund public infrastructure, community facilities, or services that will support the new development, such as roads, parks, or schools. By mandating these contributions, the clause ensures that the costs of increased demand on public resources are fairly shared and that necessary improvements are funded, thereby facilitating sustainable community growth.
Monetary development contribution. (a) A monetary Development Contribution is made for the purposes of this Agreement when the Council receives the total amount of the contribution in cash, by bank cheque or by electronic funds transfer of cleared funds into a bank account nominated by the Council.
(b) The Developer is to give the Council not less than two Business Days written notice of its intention to pay a monetary Development Contribution.
(c) After having given notice under clause 4.2(b), the Developer is required to attend a Council Office to pay the monetary Development Contribution.
Monetary development contribution. (a) A monetary Development Contribution is made for the purposes of this Agreement when the Council receives the total amount of the contribution in cash, by bank cheque or by electronic funds transfer of cleared funds into a bank account nominated by the Council.
(b) The Developer is to give the Council not less than two Business Days written notice of its intention to pay a monetary Development Contribution.
(c) After having given notice under clause 4.2(b), the Developer is required to attend a Council Office at Prince Street, Grafton or River Street, Maclean to pay the monetary Development Contribution.
(d) The Parties agree that if the Developer does not pay a monetary Development Contribution on or before the due date for payment, that monetary Development Contribution:
(i) is to be a debt due and payable by the Developer to the Council on demand;
(ii) may be recovered in a court of competent jurisdiction in New South Wales;
(iii) is to incur interest from the due date for payment until the amount is paid in full;
(iv) interest is calculated for this clause at a rate which is the aggregate of 4% per annum and the cash rate quoted by the Reserve Bank of Australia; and
(v) interest accrues and is charged from day to day and is calculated on the basis of days elapsed and a 365 day year.
Monetary development contribution. (a) A monetary Development Contribution is made for the purposes of this Agreement when the Council receives the total amount of the contribution in cash, by bank cheque or by electronic funds transfer of cleared funds into a bank account nominated by the Council.
(b) The Developer is to give the Council not less than two Business Days written notice of its intention to pay a monetary Development Contribution.
(c) The Parties agree that if the Developer does not pay a monetary Development Contribution on or before the due date for payment, that monetary Development Contribution:
(i) is to be a debt due and payable by the Developer to the Council on demand;
(ii) may be recovered in a court of competent jurisdiction in New South Wales;
(iii) is to incur interest from the due date for payment until the amount is paid in full;
(iv) interest is calculated for this clause at a rate which is the aggregate of 4% per annum and the cash rate quoted by the Reserve Bank of Australia; and
(v) interest accrues and is charged from day to day and is calculated on the basis of days elapsed and a 365 day year.
Monetary development contribution. (a) In accordance with the provisions of Condition18 of the Development Consent DA2014/0098, as may be modified from time to time, the Developer is to pay to Council a road maintenance contribution of per annum for the use of Council’s roads by extractive industry trucks based on $0.21 per cubic metre.
Monetary development contribution.
(a) A monetary Development Contribution is made for the purposes of this Agreement when the Council receives the total amount of the contribution in cash, by bank cheque or by electronic funds transfer of cleared funds into a bank account nominated by the Council.
(b) The Council must provide the Developer with the Intersection Design for the Developer’s consideration and comment prior to finalising the Intersection Design.
(c) The Council must not unreasonably withhold its consent to a request for an amendment to the Intersection Design submitted by the Developer as part of the Developer’s comments under clause 4.2(b).
(d) The Council will notify the Developer of the final Intersection Design as approved by Council.
(e) The monetary Development Contribution detailed in Schedule 1 is payable within 14 days after the date the Developer receives notice from the Council of Council’s approval of the Intersection Design.
(f) The Developer is to give the Council not less than two Business Days written notice of its intention to pay a monetary Development Contribution.
(g) After having given notice under clause 4.2(f), the Developer is required to attend a Council Office at Prince Street, Grafton or River Street, Maclean to pay the monetary Development Contribution.
(h) The Parties agree that if the Developer does not pay a monetary Development Contribution on or before the due date for payment, that monetary Development Contribution:
(i) is to be a debt due and payable by the Developer to the Council on demand;
(ii) may be recovered in a court of competent jurisdiction in New South Wales;
(iii) is to incur interest from the due date for payment until the amount is paid in full;
(iv) interest is calculated for this clause at a rate which is the aggregate of 4% per annum and the cash rate quoted by the Reserve Bank of Australia; and
(v) interest accrues and is charged from day to day and is calculated on the basis of days elapsed and a 365 day year.