32Barangaroo contributions plan

32 Barangaroo contributions plan

32 Barangaroo contributions plan

(1) Infrastructure NSW must prepare and approve a Barangaroo contributions plan.

(2) The Barangaroo contributions plan has no effect unless it is approved by the Minister.

(3) The Barangaroo contributions plan must provide for the following:

(a) the payment of a levy of 1% to Infrastructure NSW on development, calculated in respect of the cost of development of land,

(b) the development within Barangaroo to which the levy will apply,

(c) the manner in which the cost of development is to be calculated,

(d) the purposes for which a development contribution may be used, including the provision of local, State and regional infrastructure on or associated with the development of Barangaroo (whether or not situated within Barangaroo),

(e) the proposed timing for delivery of infrastructure for which development contributions are to be used.

(4) Infrastructure NSW may amend or replace the Barangaroo contributions plan.

(5) An amendment to, or replacement of, the Barangaroo contributions plan has no effect unless it is approved by the Minister.

(6) The regulations may make provision for or with respect to the preparation, approval and amendment of the Barangaroo contributions plan, including the format, structure and subject-matter of the plan.