The Public Must Share in Unearned Development Windfall – Media Release
The NSW Government’s Infrastructure Contributions Review has delivered yet another financial windfall from development at the expense of local communities. BPN spokesperson on this, Phil Bradley said “If these recommendations are implemented, communities will be deprived of funds to build vital infrastructure. No council or government should be approving a very profitable development unless it is in the public interest”. When developers are permitted to build many storeys more than a Local Environmental Plan allows, the land value increases, sometimes by as much as $2,000 per sq metre of additional floor area. Very…continue reading →