Re-Valuation of land Within Areas Covered by Development Contribution Plan

⁠⁠⁠The independent registered Valuer is to provide a valuation report for each of the DCPs. The valuation report is to provide a value of the acquired land for the purposes of proposed road widening, active open space and community uses as listed in the Development Contribution Plan land use budget. The Valuer is also required to provide values assessed in a “before” and “after” scenario on a per property basis for the purposes of determining the site-specific “difference” value for road widening, active open space and community uses.

Preparation of a valuation report for each DCP that details highest and best use valuations for each property clearly setting out title particulars, site description and topography, zoning and planning controls, valuation rationale including analysis of previous sales, and a before and after valuation for each piece of land required for a public purpose and shown in the PSP.

The contract would be for a five-year period with valuations conducted annually for each PSP area.
Stage 1 - Deliverables

• Undertake valuation of the proposed items in the Project Scope including reviewing Council base land values and recent comparable sales in the area.

1. Land acquired for road widening should be valued on “before” and “after” assessment of holdings.
2. Land acquired for community uses and active open space is to be assessed based on land that can be sold individually as inglobo development sites.

Stage 2 – Deliverables

• Provide a Draft Valuation Report for review by Council for each of the listed items
• Provide Final Valuation upon feedback on Draft Valuation Report from Council
• Provide values assessed in “before” and “after” scenario on a per property basis for the purposes of providing landowner compensation details and determining passive open space.

It is also expected that the Valuer will meet with Council officers at least on two occasions per year to discuss any issues that have arisen in relation to the re-valuations.

Tenders close at 5.00 pm on Monday 23 September 2019.