Monday, 7 June 2010

Parramatta. Mutual agreement over properties

The of properties by Parramatta City Council for its $1.4 billion Civic Place redevelopment project has been resolved regarding properties, at 20-22, 24 and 25 Darcy Street. A mutual agreement was struck to purchase the properties without invoking public powers for a forced acquisition. The properties will be sold to council on agreed values following a mutually agreed process facilitated by Jerrold Cripps QC, former ICAC Commissioner, and an independent valuer, deputy Lord Mayor, Chiang Lim, said in his e-newsletter. “In 2009, the NSW Parliament amended the Land Acquisitions (Just Terms Compensation) Act in order to clarify and support public-private partnership projects like Parramatta’s Civic Place [3-hectare] re-development, Clr Lim said.

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