Phasing assumptions Clause Samples

Phasing assumptions. The financial estimates have been prepared on a prudent basis, and it is assumed that the expenses will be incurred several years earlier than the eventual steady-state income. As per the draft Heads of Agreement it is assumed that the City will take responsibility for maintenance of public areas two years after practical completion. Although the expenses will be incurred before the income materialises a large part of this is a non-cash expense, depreciation. Figure 1 provides the staging plan prepared by DevelopmentWA (date March 2020) and the table below indicates the approximate dates for the commencement and completion of each stage. It should be noted that the completion dates do not factor in the time taken the develop the prepared lots and for rates income to be derived. The City has made the prudent assumption that is would take until 2033-33 for the realisation of the full rates revenue.