Low Cost Loan Initiative to provide boost for Council and Moss Vale Road Urban Release Area
13 November 2018
MEDIA RELEASE
Shoalhaven City Council Mayor Amanda Findley and Parliamentary Secretary for the Illawarra and South Coast and Member for Kiama Gareth Ward MP today announced funding for the Moss Vale Road Urban Release Area to kick-start essential infrastructure for one of the Shoalhaven’s newest communities.
Shoalhaven City Council has committed to funding the upfront costs for the acquisition of land for the purpose of Public Open Space in the URA by using loan funds of $6.37 million with a 50% discounted interest rate through the Low Cost Loan Initiative (LCLI).
Mayor Amanda Findley said the NSW Government funding would be used to provide vital infrastructure for a great new community that would boost housing affordability in the Shoalhaven.
“The Moss Vale Road URAs are vital for planning for the growth of our region and play an important role in easing the increasing demand in the housing marketing, changing household trends and a growing ageing population,” Clr Findley said.
“This area was recognised in Council’s Nowra-Bomaderry Structure Plan 2006 which identified 9 new living areas, that will be released in six stages over a 25-year period.
“With NSW Funding like this Council can provide 9.4 hectares of open space allowing the community to have parklands and green spaces established at the same time or before development starts. The Indicative Layout Plan includes tree-lined boulevards and active transport to encourage healthy living.”
“The early delivery of infrastructure has the potential to accelerate the release of land by reducing costs to developers and potentially future buyers and allows the establishment of quality open space areas in conjunction with the release of land, not after release, which is generally the case. This allows Council to set the outcome for development early.”
“I commend Gareth Ward, the NSW Department of Planning and Environment, NSW Treasury Corporate and the Office of Local Government for initiatives like the Low-Cost Loans Initiative,” the Mayor concluded.
Parliamentary Secretary for the South Coast and Member for Kiama Gareth Ward MP said: “I am very pleased to have secured this result for the Moss Vale Road Urban Release Area under the NSW Government’s Low Cost Loan Initiative – this $576,659 funding will provide a real boost for this vital planning for future growth,” he said.
“I would like to thank Mayor Amanda Findley for working with me to secure this positive outcome for our community.
“I have previously made direct representations to Shoalhaven City Council requesting early acquisition of land on the basis that the private land is substantially affected by future acquisition for open space,” Mr Ward said.
Key Facts about Moss Vale Road Urban Release Area:
Estimated up to 840 lots of various sizes.
- Early delivery of infrastructure has the potential to accelerate the release of land by reducing costs to developers and potentially future buyers and allows the establishment of quality open space areas in conjunction with the release of land, not after which is generally often the case. Allows Council to set the outcome for development early.
- The area is identified in Council’s Development Control Plan (DCP) and Contributions Plan (CP) for the URA. The cost of the infrastructure will be recouped through development contributions levied on development in the URA.
- Council listened to concerns raised by the community and received from the Member for Kiama, Gareth Ward requesting early acquisition of land on the basis that the private land is substantially affected by future acquisition for open space.
