I write to raise some concerns about the draft Planning Agreement Policy, which have been brought to my attention by Urban Taskforce Australia members.
The draft Policy details a lucrative value capture program in which Council proposes to receive either:
• 50% of any increase in residual land value; or
• $1,795 for every additional square metre above the development standards,
from any new residential developments within its growth centres of Burwood North, Burwood Town Centre, and Strathfield Town Centre, applying whichever methodology is bound delivers higher revenue.
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