A voluntary planning agreement (VPA) in NSW is an agreement entered into by a planning authority (such as the Department of Planning and Environment) and a developer. Under the agreement a developer agrees to provide or fund community infrastructure as a contribution in return for development approval. This could be in the form of:
- public amenities and public services
- affordable housing
- transport or other infrastructure.
Contributions can be made through:
- dedication of land
- monetary contributions
- construction of infrastructure
- provision of materials for public benefit and/or use.
In Sydney in 2014 an important VPA between the City of Sydney and the developers of The Greenland Centre was approved where a $25m creative hub has been included in a $439.5m CBD residential development.
The creative hub will provide space for Sydney’s creative sector in the form of rehearsal spaces and studios and would grant tenancy rights to the City for the use of the creative hub for a 99 year term.
See following news article from the Sydney Morning Herald.