The Infrastructure Contributions Plan (ICP) system has been revised to improve the method for securing land for public purposes. The Victorian Parliament passed the Planning and Environment Amendment (Public Land Contributions) Act 2018 (the Act), which introduced a suite of changes to the ICP system effective from 2 July 2018.
A key change of the Act is that it requires land for public purposes to be provided as part of an infrastructure contribution when land is developed, replacing the previous monetary based system.
The new land contribution model will be simpler, secure early transfer of land for public purposes, reduce the financial risk of escalating land prices over time and reduce the overall monetary levy paid by developers.
For more information, refer to the following Fact Sheets:
- Fact Sheet #1: What is the act (Public Land Act 2018) (PDF)
- Fact Sheet #2: ICP implementation (PDF)
- Fact Sheet #3: Requirements for changed approach (PDF)
- Fact Sheet #4: Infrastructure Contributions Plans – FAQs (PDF)
Benchmark Infrastructure Costings
These are standard cost estimates prepared for a range of basic and essential local infrastructure generally provided in Precinct Structure Plans (PSP) and funded through associated ICPs.
For more information, refer to Benchmark Infrastructure Costings.