IPART has finalised its assessment of Hawkesbury City Council’s Vineyard Precinct Section 7.11 Draft Contributions Plan (Vineyard CP).
Our recommendations would reduce total costs in the plan by 6.8%, from $165.27 million ($Mar2018) to $153.95 million ($Jun2019).
Cost reductions primarily result from:
- Using lower values for constrained land and land with protected vegetation ($12.25 million)
- Using separate values to estimate the cost of R2 and R3 land ($6.48 million)
- Reducing interest costs to reflect revised land and works costs and the interest subsidy ($2.39 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.
If adopted in full, our recommendations would reduce contributions in the Vineyard CP by 6.9% (from $70,598 to $65,748) for a typical low density lot and by 6.6% (from $54,431 to $50,837) for a typical medium density lot.