Many in the property and development sectors in NSW welcomed the introduction of the Part 3A (Major Infrastructure and other projects) reforms in August 2005. The NSW legislation is geared towards facilitating large-scale developments and infrastructure developments, and to reducing the extent to which those projects can be delayed or prevented by local councils and others who might oppose those developments. Meanwhile, local government representatives, environmentalists and community groups have criticised the new provisions. This update looks at whether Part 3A is, in practice, really so advantageous to developers.
Now that the dust has begun to settle, developers need to look long and hard at the implications of Part 3A, and question whether it provides the "certainty" and "bankable security" that were said to be the primary goals of the legislation. In their rush to herald the amending legislation, there are issues that developers might have overlooked.
