Council have endorsed the exhibition of the draft Coffs City Centre Development Incentive Policy that contains opportunities for developers to be exempt from developer contribution charges, if they build residential, tourist accommodation or shop top housing in the city centre.
Reinvigorating the CBD as a social, cultural and economic hub for the whole community is a major focus of Coffs Harbour City Council and a number of ongoing projects are happening with that in mind – for example the upgrade of City Square itself and the new Cultural and Civic Space.
Having people live and stay in the CBD means that there is activity outside of business hours – and having that mix has a proven track record in stimulating economic activity in places within cities that are mainly considered to be mostly retail or business locations.
The kind of development the draft policy encourages includes residential projects that contain four or more large units or tourist accommodation and shop-top housing projects that contain at least one large unit.
The new draft policy will dovetail very well with Council’s existing Business Incentive Policy. The current Business Incentive Policy already offers real, tangible discounts to businesses – right across the local government area, not just the CBD – that are seeking to set up new premises or expand existing ones.
The draft Coffs Harbour City Centre Development Incentive Policy incorporates the option of providing an exemption to developer contributions for the development of accommodation within the Coffs Harbour City Centre precinct.
The draft policy also proposes that the period of exemption is to run for two years from the date the policy is approved OR until a maximum cap (incentive allowance) of $2,500,000 is reached, whichever occurs first.
The draft Coffs City Centre Development Incentive Policy will be on public exhibition for a period of 28 days. You can read the draft policy, find out more and have your say by going to https://haveyoursay.coffsharbour.nsw.gov.au