Infrastructure Contribution Plan Change: Land in Lieu
Last Wednesday, one of our town planners attended an UDIA industry insights forum on the Infrastructure Contribution Plan (ICP) changes that came into effect on 2 July 2018. Presenters were from DELWP and the Victorian Planning Authority (VPA).
The ICP system, which applies generally to metropolitan greenfield growth areas, is based on standard levies that are required to fund the provision of essential infrastructure. The changes introduce a land contribution model for the ICP system that allows land identified for public purposes to be provided as a land contribution rather than only as a monetary payment for public land, under the earlier system.
The monetary levy is used to fund the provision of works, services or facilities for community, recreation and transport infrastructure. It may consist of a standard levy, a supplementary levy or both. The standard levies (listed below) are indexed on 1 July each year.
The land component is land identified for public purposes such as roads, parks and community facilities. The land component may also consist of a land equalisation amount.
The land component is based on valuations by the Valuer General, subject to a process review if the valuation is opposed by the land owner.