Common use of WORKSHEET Clause in Contracts

WORKSHEET. The figures in this worksheet are indicative only, and have been used to show how the calculations are made. Example: ($8,000,000 x 0.5) = $4,000,000 Where: ($4,000,000 + (0.5 x $1,131,428)) – ($30,000 + $200,000) = $4,335,714 Benefit Allocation $4,000,000 Planning Gain x 0.5 Additional DA Floor Space Value $1,131,428 Additional Floor Space Rate (R2) x Additional DA Floor Space = $2,828.57 x 400 Additional Floor Space Rate (R2) $2,828.57 This is the current rate. Additional DA Floor Space 400 square metres Attributed Value of Footpath Works $30,000 Attributed Value of the Car Park Lots $200,000 Attributed Value of the Car Park Lot x number of car park lots required for affordable housing component = $50,000 x 4 Example: Contribution Value $4,335,714 (BA + (0.5 x AFSV)) – (VFW + VCPL)) Agreed Market Value Rate $14,000 Special Conditions to the following effect must be included in the Contract for Sale.