Shellharbour city councillors have endorsed an agreement with the developers of the $3 billion Calderwood project under which $62 million in contributions and facilities will flow to Shellharbour City.
The voluntary planning agreement with Lend Lease was endorsed at an extraordinary council meeting on Tuesday night and will be placed on public exhibition for community comment from May 21 to June 20.
The proposed Calderwood development covers a 700-hectare site west of Albion Park, with 4800 homes to be developed over the next 20 years.
Under the agreement Lend Lease would provide community facilities including $28 million worth of parks and an $8.29 million sporting complex.
More than $19 million in monetary contributions will help to fund infrastructure including $7.2 million for the Albion Park bypass and $2.2 million for an extension of the Albion Park library.
The council and Lend Lease had been locked in a dispute over proposed contributions for the development, with Lend Lease challenging the validity of the council's Section 94 plan in the Land and Environment Court.
Shellharbour Mayor Marianne Saliba said the agreement was drawn up in consultation with the NSW Department of Planning and would bring an end to the ongoing court action.
Cr Saliba said the agreement was "as good as could be expected" and recognised the work that needed to be done.
Once signed, Lend Lease would be legally obliged to deliver on the agreement, although alternatives and variations could be proposed if deemed mutually beneficial.
"The [agreement] allows facilities that may help the development be built sooner rather than later," Cr Saliba said.
"This development will introduce more than 10,000 people to our population that will require the support of public services and facilities ... through this agreement we can lift the financial burden from the rest of the community."
Cr Kellie Marsh had been strongly opposed to the Calderwood project.
"Whilst I am not comfortable with what is contained in the document I don't feel we have got anywhere else to go ... we will have residents out there and need to provide for them," Cr Marsh said.
Lend Lease to provide the following facilities:
■ Community centre $4.38million
■ Outdoor sporting complex $8.29million
■ District parks $20.13million
■ City parks $7.62million
Lend Lease to make approximately $19.5 million in monetary contributions to council, including:
■ Albion Park library extensions $2.21million
■ Albion Park bypass $7.20million
■ City-wide community infrastructure $7.44million
■ City-wide open space and recreation $2.16million
Lend Lease will also dedicate to council for $1, the land in their ownership required for the Albion Park Bypass, negating the need for council to compulsorily acquire the land or purchase the land (current nominated value $523,000).