We're proposing two rebate schemes to waive development contributions in specific circumstances, where there is a clear benefit to the wider community. These are:
These schemes would sit alongside Council's Development Contributions Policy, which is used to help recover some of the costs of providing infrastructure to new developments. They are guided by our Development Contributions Rebate Policy.
The Development Contributions Policy limits the life of existing demand credits to ten years which means some sites in the central city, that are still to be re-development post-earthquake, no longer have their credits.
The intention of the credit extension is to encourage development, in particular of some quite prominent sites where there is the potential for negative perceptions of the city for visitors and investors.
Existing demand credits recognise that a development may replace previous development on the same site and therefore not place additional demand on infrastructure and facilities. If a development is replacing like with like it will not be required to pay development contributions.
The proposed scheme is for any development within the Four Avenues of the central city where the existing structure was in place on the lot on or after 1 March 2024. This means that to be eligible for this rebate, the building must contain gross floor area as defined by the Development Contributions Policy. This means it still needs to have exterior walls and a roof. If a development site sits across multiple lots, the buildings on each lot will be assessed separately to determine eligibility for this rebate.
There is also the option to extend this scheme to include vacant sites, so that all sites within the Four Avenues would be eligible for the rebate.
The rebate is for the existing demand credits on the site, assessed based on the previous use of the site using the highest level of actual or otherwise verifiable demand between 3 September 2010 and 3 September 2020. Essentially, the scheme provides developers with the credits that were sitting on the development site the day before the first earthquake on 4 September 2010.
It is proposed the total funding limit of the scheme is $5 million, with a maximum of $1 million for a single development. The scheme will expire on 30 June 2027 or when the total scheme funding is fully allocated.
View the full scheme criteria here.
This scheme would introduce a rebate for central city residential developments of at least six storeys.
This would support the Council’s desire to have 20,000 central city residents by 2028. The current estimated population is 9,160.
The developer would be required to register a covenant on each title to limit the use of residential units within the development to residential use only.
The proposed scheme is for any residential development within the Four Avenues of the central city. The residential development, or residential component, must comprise of at least six storeys.
The rebate is for 100 per cent of the development contribution requirement.
Because the purpose of the rebate is to support more permanent residents in the central city, the draft rebate excludes any property used for any purpose other than residential, including short term guest accommodation. The developer will be required to register a covenant on each title to limits the use of residential units within the development to residential use only.
It is proposed the total funding limit of the scheme is $2 million, with a maximum of $1 million for a single development. The scheme will expire on 30 June 2027 or when the total scheme funding is fully allocated.
The cost of any scheme would be revenue forgone, meaning that it would be funded by ratepayer funded borrowing.
For the proposed funding limits of the two schemes, the estimated impact on rates is between 0.01% and 0.02% over the four financial years that the schemes would be in place for.
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