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January 19, 2016
Your independent community newspaper - Ph: 4325 7369
Issue 84
Chinese theme park Heads of Agreement signed y o n g C o u n c i l ’s acting CEO, Mr Rob Noble has confirmed that a new Heads of Agreement has been signed between the council and the Australia China Theme Park (ACTP) Pty Ltd concerning the $10 million purchase of land at Warnervale for ACTP’s proposed Chinese theme park.
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Mr Noble said he expected the parties to exchange contracts for the sale of the land within the next two or three weeks. Mr Noble said the contract is currently under construction. Mr Noble said he understood a Heads of Agreement to be an agreement to enter into a contract. “It sets out the key principles and terms around which the contract is likely to be based. “It is like a guiding document and expression of intent.” In this instance, Mr Noble said he could confirm that the Heads of Agreement was a written document signed by both Wyong Council and the Australia China Theme Park Pty Ltd. “Based on the discussions we have had with the company and the fact they have been prepared to sign a heads of
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agreement as a precursor, I have no reason to believe they will not go ahead and sign a contract with us despite the delays that have occurred in the past,” Mr Noble said. “One of the aims that council had when it considered the letter received from the company early last November was to work with the company towards the possible creation of a new contract with new terms and conditions that would be more favourable and less risky and more on commercial terms than what had been the case previously,” Mr Noble said. “I can’t tell you about terms or money just yet, that will come out in due
course, but I can say that the proposed terms will be on a proper commercial basis and will be more favourable to council and the community and so in that way they will meet the requirements of the council when they looked at it in November,” he said. When asked if he, therefore, considered the previous contract to be deficient or less favourable to council and the community, Mr Noble said: “I would never say that. “I am not going to say anything about what may or may not have been wrong with the previous contract but I can say the new heads of agreement will result in a better
outcome, should it all proceed.” Mr Noble said he could not commit to a date for settlement of the transaction because those details were “all commercial in confidence at the moment but the proposed terms set out in the heads of agreement will be on normal commercial arrangements.’ In the event that ACTP Pty Ltd signs the contract and pays Wyong Council $10 million plus GST for the Warnervale land, Mr Noble said there were other steps the developer would have to go through before the Chinese theme park could be built. “There is a gateway approval by Department
of Planning that addresses rezoning matters so there is an in principle approval for matters to deal with rezoning subject to conditions. “Specifically the Department of Planning identified that there actually wasn’t a need to change the zoning itself but, subject to the company doing certain things and proposing those to the council, then there is a way suggested by the Department of Planning to allow what the company is wanting by making changes to the schedules in the Wyong LEP for that particular land.” The DA has already been received by Wyong Council for the first stage
of the development. “The proposed temple and ancillary buildings are covered in the initial DA and so yes there will be staging involved,” he said. According to Mr Noble, once stage one made its way through council processes, it would still need approval from the Joint Regional Planning Panel (JRPP) because of the amounts of money involved (more than $20 million). “It will absolutely require JRPP approval; it is a very big development.” ACTP have re-engaged its key consultants, Cardno, who have been instructed to move forward as quickly as possible with the rezoning of the Chinese Theme Park land. ACTP has paid Wyong Council $100,000 out of the $10 million plus GST it owes to secure ownership of the land at Warnervale slated for the development of its $500 million Chinese theme park. A Wyong Council media release followed two recent articles in the Fairfax and Murdoch press pointing out “nonpayment and delays” had plagued the proposed development.
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Media release, Jan 15, 2016 Wyong Council media Emails, Jan 18, 2016 Interview, Jan 18, 2016 Rob Noble, Wyong Council Jackie Pearson, journalist