Item 8.5 - Attachment 4

Draft VPA Value Summary

 

PUBLIC BENEFIT VALUE

 

Table 1 identifies the Public Benefits offered under the Voluntary Planning Agreement between Glory Property Development (Australia) Pty Ltd and Parramatta City Council.

 

Voluntary Planning Agreement Offer

Public Benefits

Offer Value

Council Value

Council Description/Note

Assigned Public Benefit (%)

VPA Public Benefit Value

New Laneway Link

To complete the design, construction and commissioning of a new vehicle and pedestrian laneway link, including a traffic calming device, connecting existing laneways to the north and south. This creates a more efficient traffic and pedestrian movements to and from Parramatta Railway Access/Bus Interchange. All designs to meet BCA and AS requirements.

 

Preparation, demolition and substructure

Cobble stones

Street lighting

Associated drainage/stormwater

 

Associated design, construction and certification

 

TOTAL

 

 

 

 

 

 

 

 

 

$9,768.75

$23,685

$10,000

$5,000

 

$19,005

 

$67,458.75

 

 

 

 

 

 

 

 

 

$11,800

$23,600

$10,000

$15,000

subtotal $60,400

$12,080

 

$72,480

 

 

 

 

 

 

 

 

 

$200/m≥ x 59

$400/m≤ x 59

2 lights

$200/m x 50 + 2 pits at $2,500 ea.

 

$60,400 x 20%

 

 

 

 

 

 

 

 

 

Nil

50%

100%

Nil

 

100% of (20% x $21,800)

 

 

 

 

 

 

 

 

 

 

Nil

$11,800

$10,000

Nil

subtotal $21,800

$4,360

 

$26,160

Resurface/reconstruct existing laneways

To complete the design, reconstruction and commissioning of the adjoining existing laneways with new high quality cobble stones, street lighting and associated drainage. All designs to meet BCA and AS requirements.

 

Preparation, demolition and substructure

Replace existing bitumen with cobble stones

Street lighting

Associated drainage/stormwater

 

Associated design, construction and certification

 

TOTAL

 

 

 

 

 

 

$55,356.25

$134,215

$15,000

$5,000

 

$82,355

 

$291,926.25

 

 

 

 

 

 

$96,400

$192,800

$15,000

$15,000

subtotal $319,200

$63,840

 

$383,040

 

 

 

 

 

 

$200/m≥ x 482

$400/m≤ x 482

3 lights

$200/m x 50, + 2 pits at $2,500 ea.

 

$319,200 x 20%

 

 

 

 

 

 

100%

100%

100%

100%

 

100% (of 20% x $319,200)

 

 

 

 

 

 

$96,400

$192,800

$15,000

$15,000

subtotal $319,200

$63,840

 

$383,040

Dedication of Land

To allow the immediate commissioning of the vehicular link 26.4m2 of additional land is to be dedicated to Council.

Additional 29.42m2

 

 

 

 

$163,928.20

 

 

 

 

$30,385

Councilís valuation if for the entire area to be dedicated to Council of approximately 59m≤

 

$515/m≤ x 59

 

 

 

 

100%

 

 

 

 

$30,385

 

Urban design, landscaping, art and signage

To complete the design, construction and commissioning of the Public Domain Area with high quality finishes, crime prevention landscaping and community art theme. A laneway naming project and creating a safe inviting meeting place is the urban design outcome. All designs to meet BCA and AS requirements.

 

Landscape and irrigation

 

Artwork

Signage & CCTV

 

Associated design, construction and certification

 

 

TOTAL

 

 

 

 

 

 

 

 

$25,600

 

$35,000

$5,000

 

$25,340

 

 

$90,940

 

 

 

 

 

 

 

 

$25,000

 

$35,000

$25,000

 

subtotal $85,000

$17,000

 

$102,000

 

 

 

 

 

 

 

 

6 trees at $2,500 ea. + other planting & irrigation

As per approved Arts/Signage Plan

As per approved Arts/Signage Plan. Min 3 cameras and 1 server.

 

$85,000 x 20%

 

 

 

 

 

 

 

 

50%

 

Nil

100% for CCTV

 

 

100% (of 20% x $32,500)

 

 

 

 

 

 

 

 

$12,500

 

Nil

$20,000

 

subtotal $32,500

$6,500

 

$39,000

 

SUBTOTAL VPA OFFER (Excluding Development Costs)

 

$614,253.20

 

$587,905

 

 

 

$478,585