IPART has released a Second Draft Report on its assessment of Hawkesbury City Council’s Vineyard Precinct Section 7.11 Draft Contributions Plan (Vineyard CP).
This report includes our analysis of the council’s revised cost estimates it submitted in June 2019 in response to our First Draft Report.
The report provides an opportunity for stakeholders to comment on the council’s revised proposal and our draft assessment.
Our draft recommendations
Our draft recommendations would reduce total costs in the plan by 10.0%, from $165.27 million ($Mar2018) to $148.73 million ($Jun2019).
Cost reductions primarily result from:
- Using lower values for constrained land and land with protected vegetation land ($12.56 million)
- Using separate values to estimate the cost of R2 and R3 land ($11.80 million)
- Reducing interest costs to reflect revised land and works costs and the interest subsidy ($2.45 million)
- Revising Boundary Road costs ($1.90 million).
These reductions are partially offset by recommended increases in the cost of some works items, including to address the impact of price inflation since March 2018.
Indicative contributions in the plan are currently between $54,590 and $70,789 per residential lot or dwelling. Our draft recommendations would reduce the contributions for equivalent lots to between $49,018 and $63,528.