The NSW Government has today made changes to State and local infrastructure contributions policy that will help bring forward projects and support local jobs.
A Ministerial direction has been issued and changes made to the Environmental Planning and Assessment Regulation 2000 that will allow developers to pay all contributions prior to an occupation certificate being issued, instead of up-front before construction commences.
Planning and Public Spaces Minister Rob Stokes said the deferral of infrastructure contributions is part of the Government’s plan to keep investment in job-creating projects flowing.
“This initiative will help the development and construction industry with COVID-19 cashflow issues and bring forward projects that create and support much-needed jobs,” Mr Stokes said.
“Developers will still have an obligation to help fund local infrastructure and we have strengthened rules to ensure that occupation certificates are not issued for developments with any outstanding contributions.
“This change is only temporary and will help kick-start the NSW economy at a time when we need it the most.
“I want to assure councils that this revenue is deferred not lost, and we will continue to work with local government to unlock contributions already in councils accounts to deliver streets, public spaces and other essential community infrastructure.”
The deferral of contributions is applicable for projects with a construction cost of $10 million or more, and existing development consents where infrastructure contributions have not yet been paid.
Proponents will have until September 2022 to make use of deferred payment provisions.
For more information visit the local infrastructure contributions policy webpage.
Date: 03.07.2020 | File type: pdf | File size: 160.2 KB