Written by
19/06/2023
Penrith City Council has released the draft Penrith Aerotropolis Development Contributions plan, which outlines an expensive funding model for the delivery of essential infrastructure in the emerging Aerotropolis precinct.
$815 million seeks to be delivered by apportioning a contribution rate of 5.5% for development of $200,000 plus within the Aerotropolis in Penrith’s LGA.
These contributions will fund local infrastructure, including local roads, bridges, active transport connections, parks and community facilities.
The plan will not apply to the following types of development:
Aerotropolis boundary, showing Penrith and Liverpool boundaries
Section 7.12 levies are calculated by dividing the total infrastructure and admin cost by the total development cost multiplied by 100.
Previously, the plan was a joint plan between Penrith and Liverpool councils but now both councils will have their own plans. Liverpool Council is proposing to introduce a 4.5% contribution rate for projects within the Aerotropolis in Liverpool’s LGA.
The total cost of local infrastructure for both councils is estimated to be $2.8 billion.
The plan is on exhibition until 13 July.
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