The City of Parramatta has approved a $1.24 billion project over the next 20 years to help develop community infrastructure, including parks, community centres, road upgrades and libraries.
The City of Parramatta (Outside CBD) Development Contributions Plan will require that new developments in most areas of the Parramatta Local Government Area (LGA) must contribute money, land or both for local infrastructure.
“By 2041, the City of Parramatta is predicted to be home to more than 166,000 new residents and about 33,000 new workers,” City of Parramatta Lord Mayor, Cr Bob Dwyer, said.
“The Central River City needs the community infrastructure to support this exceptional growth and ensure our city continues to appeal to businesses, visitors and investors alike.
“The City of Parramatta (Outside CBD) Development Contributions Plan allows us to recover more funding from developers, which will in turn reduce the financial burden on Council and ratepayers when it comes to delivering the infrastructure needed to support our growing population.”
The new plan replaces and consolidates the eight existing contributions frameworks and will apply to developments in Parramatta, including residential accommodation, mixed-use development, and tourist and visitor accommodation. A separate plan is being created for the Parramatta CBD.
Through the Parramatta (Outside CBD) Development Contributions Plan, the Council will be able to generate approximately $1.24 billion in developer contributions for infrastructure in the City of Parramatta over the next 20 years. The document outlines the circumstances in which a contribution is required, what kind of developments it applies to, and how the contribution is calculated.
“Extensions and replacement homes are exempt from paying contributions under the plan, while granny flats are eligible for a 50 per cent discount,” Cr Dwyer said.
“It’s fantastic to see so much investment and development in our city, but the population growth that comes with it puts a lot of pressure on our existing infrastructure,
“For this reason, it’s crucial developers make a reasonable contribution towards new and improved infrastructure from which the people living and working in these new buildings will benefit.”
These development contributions will help fund the delivery of parks, indoor sports courts, libraries, community centres, upgrades to local roads, and other important infrastructure.