The Western Sydney Leadership Dialogue is supportive of measures that ensure those that directly benefit from major infrastructure projects in Sydney, including the Parramatta Light Rail, also help subsidise the cost to tax-payers.
Dialogue Chairman, Christopher Brown AM, said the days of the Government being solely
responsible for the funding of major projects, were over, and that private sector developers,
landowners and the broader community will be required to help contribute to ongoing
“The Parramatta Light Rail was always framed as the test-case for how a value-sharing model
could be applied, and a large part of why this project has progressed from a concept, to a reality, is because of the willingness of the Western Sydney landowners and private sector, who are happy to ‘pay to play’,” Mr Brown said.
“Western Sydney has put its hand up and said its willing to wear some of these costs if it means having improved transport connections and better access to services. It would be great if the NSW Government could examine how to retrospectively impose a similar value-sharing model for the Sydney CBD Light Rail and Sydney Metro Northwest, so that those in the East and North of Sydney, who directly benefit from these projects, can also help contribute to their cost.”
A Deloitte report in 2015 determined that the Parramatta Light Rail line along the Olympic
Corridor could be funded through a voluntary contribution model for the private sector. This
involves land owners who elect to take up density uplift incentives along the light rail route
putting up money for the project.
It estimated, conservatively, that $1.1b could be generated through private sector development
levies, to help fund the project.
“There are examples all over the world where value-sharing models have been successfully
adopted, and in some cases, actually demanded by communities as a way to deliver the necessary infrastructure, quicker, and at a cheaper cost,” Mr Brown said.
“The NSW Government, in particular the Minister for Transport, Andrew Constance, along with
the City of Parramatta, should be congratulated for embracing innovative, inclusive, and
sustainable funding methods. These models should be applied to all of Sydney’s major projects, if we’re serious about getting on with the job of building NSW.”