More incentives for green investment

More incentives for green investment

Posted on Thursday, July 05 2012 at 1:02 PM

A new plan released by the City of Sydney today proposes extra incentives for developers who incorporate environmentally friendly features in their projects.

Property owners and developers who invest
in water and energy saving measures, green roofs and facilities for bike riders
would be able to apply for exemptions from the Development Contribution Levy.

At the moment, city central projects worth
more than $200,000 are subject to a one per cent charge.

Since it was introduced in 1997, the levy
has collected more than $90 million.

It’s hoped the concession will boost the
number of green developments and help achieve objectives outlined in the Sustainable Sydney
2030 plan, Lord Mayor Clover Moore says.

“Developers need to be innovative when
designing for the future and it’s essential for them to consider sustainable
initiatives such as green energy, water harvesting and active transport,” Moore
says.

The draft plan is now open for public
consultation and can be viewed at www.cityofsydney.nsw.gov.au/Council/OnExhibition

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