MEETING OF COUNCIL - Town of Cambridge

COUNCIL MINUTES
TUESDAY 27 NOVEMBER 2012
CR12.186 TAMALA PARK REGIONAL COUNCIL MEETING - OCTOBER 2012
PURPOSE OF REPORT:
To report on items considered at the Tamala Park Regional Council (TPRC) Ordinary
Meeting held on 11 October 2012.
BACKGROUND:
The Town of Cambridge is one of seven members of the Tamala Park Regional Council
(TPRC). The complete membership and equity ownership varies between members as
follows:-
Member Equity Member Representation
City of Stirling 4/12 4
City of Joondalup 2/12 3
City of Wanneroo 2/12 3
Town of Cambridge 1/12 1
Town of Vincent 1/12 1
Town of Victoria Park 1/12 1
City of Perth 1/12 1
The purpose of the TPRC is to undertake, in accordance with the Establishment Agreement
objectives, the rezoning, subdivision, development, marketing and sale of the Tamala Park
land.
The objectives of the Council are:-
• to develop and improve the value of the land;
• to maximise within prudent risk parameters, the financial return to the
participants;
• to balance economic, social and environmental issues; and
• to produce a quality development demonstrating the best urban design and
development practice.
Around 2,600 dwellings (2,300 lots) will be developed, establishing a population of 6,500.
The dwellings are likely to comprise of:
Single Residential 1,755
Town Houses 555
Flats/Apartments 310
The indicative sales plan provides for staged release of around 360 lots over the next twelve
months.
At its Ordinary Meeting in August 2011, the TPRC considered a revised project cashflow.
The project cashflow was again reviewed and updated in June 2012, mainly for the effects of
a reconfigured lots, reduced developable area, revised escalation rates and increased
development costs. The following summarises the revised project budget:-
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