What are the Transaction and Planning Costs?

After initial analysis of the land / development site, Interurban would typically present a scope of works alongside remuneration requirements (usually based on the added value achieved as a result of planning permission being granted) along with a promotion method. Interurban will in most cases absorb the planning application and professional service costs but this is dependent on the landowners preferred method of land promotion. Depending on the development and application type the local authority fee will vary. Extensive investigations and technical reports come at cost which depends on the site constraints, scope and size of the project. They can include design and access statements, transport assessments, flood risk assessments, waste disposal, utilities management, environmental and energy assessments, topographical surveys, structural surveys, arboriculture (tree) surveys, ecological reports, invasive species surveys, sustainability assessments and contaminated land surveys. Developer Contributions are now, in most areas, an integral part of the planning application process. Planning authorities have to take account of future impacts on local communities and ensure there is appropriate services in place where land uses change or intensify. Where there are impacts these can be alleviated through the payment of developer contributions or some other element of on site planning gain. This can relate to affordable housing provision, school capacity, health services, recreational provision, transport infrastructure and other amenities. The risk associated with developer contributions will be managed in a way to maximise the land value either via upfront payment or securing contributions via legal agreements.