Request to extend relevant period 132003.221199.3

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     ~              INNOVATIVE
                    PLANNING
    ~               SOLUTIONS


      In addition to the mandatory information enclosed with this application, we request that

      Council take into account the following facts and circumstances in their assessment of this

      extension request:



      IReasons for Re uest to Extend Relevant Period                                                 :J
      1.   The MCU     development approval issued on 6 March             2006 following    a   long and

           complicated assessment process which resulted in a State ministerial call in to decide

           the application. This approval process occurred well before the current landowner (and

           applicants) ownership of the land.

      2.   Unfortunately, after obtaining this development approval the GFC (of 2007-2008) and

           subsequent slump in property markets forced the then landowner into receivership. It

           was as a consequence of this forced sale that the current land owner       (and applicant for

           this extension application) purchased the land.


      3.   Therefore, the     current   landowner’s interest   in   the    property   and   its   related

           redevelopment entitlements / opportunities has been for a relatively short period of

           time (2years, 11 months).



      4.   Since   acquiring the land the landowner has been coming to terms with what is

           undoubtedly a complex development approval with many associated and conditioned

           obligations. This has included undertaking a review of the previous technical reporting

           prepared   as   part of the development application process particularly Ecological

           Assessments and Construction Viability reporting.



      5.   The owner has also been investigating the markets likely acceptance of the end product

           that would be delivered      by the current development approval and the viability of

           proceeding with the development in this context (particularly given the financial
           difficulties experienced by the developers of the adjoining Viridian Development).


      6.   The above actions have been undertaken to inform the applicant’s decision about

           whether the approved development is the best outcome for the site or whether a

           revised development concept should be explored either by way of changes (reduction

           in density and related construction impacts / complexities) of the existing approval or

                                                                                 P: 07 5443 1444
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