Recurrent funding. A planning agreement may include a provision relating to the payment of a monetary contribution towards recurrent costs associated with a public purpose.
Recurrent funding. Planning Agreements may provide for Public Benefits that take the form of Development Contributions towards the Recurrent Costs of infrastructure, facilities and services. Such benefits may relate to the Recurrent Costs of items that primarily serve the development to which the Planning Agreement applies or neighbouring development. In such cases, the Planning Agreement may establish an endowment fund, managed by a trust, to pay for the Recurrent Costs of the relevant item. In addition, it may bind future owners in a development to make periodic payments to the fund for the Recurrent Costs of the item. For example, a Planning Agreement may fund the Recurrent Costs of habitat protection where development will have a demonstrated impact on nearby sensitive habitat. Planning benefits may also take the form of interim funding of the Recurrent Costs of infrastructure, facilities and services that will ultimately serve the wider community. The Planning Agreement would only require the Developer to make such contributions until a public revenue stream is established to support the on- going cost of the maintenance or management of the infrastructure, facilities or services.
