Ms Joan Street. Mr T Zimmerman MP, Federal member Vacant, State member Mayor J Gibson, North Sydney Council Mr Ian Mutton 236 residents 23 apologies

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Lynn Greer
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1 Third Infrmatin Night What is ur Gvernment planning fr Lavender Bay? REPORT the presentatin and input frm ur Federal and lcal representatives Mnday 6 March 2017 at 7.30pm Chair: Elected Representatives Presenter: In attendance: Ms Jan Street Mr T Zimmerman MP, Federal member Vacant, State member Mayr J Gibsn, Nrth Sydney Cuncil Mr Ian Muttn 236 residents 23 aplgies Venue: Website: The Kirribilli Club, 11 Harburview Crescent, Lavender Bay Meeting frmat Presentatin frm Mr Ian Muttn wh shared the facts n imprtant issues relating t the future f the Lavender Bay rail siding (facts btained frm varius Gvernment dcuments, crrespndence, and the public dmain). Federal and lcal representatives, Mr Zimmerman and Ms Gibsn were then invited t share their views n the issues raised. Q&As frm the flr. Heritage train ride 12 February 2017 very successful public event, held in cnjunctin with Transprt Heritage NSW heritage train ride alng the Milsns Pint t Wavertn rail siding, sme 1200 peple enjyed the beauty f the area, as it passed thrugh sme f the mst spectacular sights arund Sydney Harbur many peple jined the Sydney Harbur High Line Assciatin and went int a draw t win a cpy f the bk n Wendy s Secret Garden. Ms. Jackie J was annunced as the winner. Intrductin Residents viewed an aerial vide clip, taken by a drne, flying alng the length f the prpsed Sydney Harbur High Line, demnstrating the beauty f the area. Page 1 f 6

2 The vide clip frmed a part f a new image library fr the Sydney Harbur High Line (SHHL) website. Mr Muttn pinted ut that the SHHL website and its attendant wrk required financial supprt. He acknwledged thse wh had jined the Assciatin, and particularly expressed thanks t the Kirribilli Club fr their dnatin f $5,000, as well as the use f their premises fr the meeting. The Issue the future f the rail line Mr. Muttn traced the relevant recent histry f the site, including the imprtant place f Luna Park and its management. At stake was the visin f the future f the ld (1890s) rail line that had nwadays diminished in usefulness t RailCrp as a place f parking f trains in readiness fr peak services, but which RailCrp maintained was essential t rail services fr bth parking f trains and fr training f railway persnnel. The future f the rail siding shuld be viewed in the cntext f ppulatin grwth which wuld increase by sme 37% ver the next decade r s and thereby generate increased need fr recreatinal space fr residents. Luna Park histry and cncern In 2002, the Luna Park site was the subject f an agreement by the Gvernment s Luna Park Reserve Trust t lease t Metr Edgley Pty Limited and Luna Park Sydney Pty Limited part f the site used fr amusement rides and the bardwalk fr 40 years; and parts f the site available t be used as a car park, restaurant and ffice blck were leases with a right t be sub-leased fr 99 years. It was a cnditin f the 2002 agreement that the amusement rides and assciated facilities n the Luna Park site were t be refurbished, which they were. In 2004, the Gvernment s Luna Park Reserve Trust entered int a lease with Luna Park Sydney Metr Edgley Pty Limited had nw becme a member f the Brkfield Multiplex grup. In 2010, Luna Park Sydney Pty Limited prpsed changes t the lease that invlved an extensin f its term f 53 years. In 2011, the Luna Park Reserve Trust signed a memrandum f understanding (Umbrella Deed) that essentially accepted Luna Park Sydney s December 2010 prpsal. The management f the Luna Park Reserve Trust supprted the 2010 prpsal. In 2013, Luna Park Sydney reprted in its accunts that a new lease (referred t as the Umbrella Deed) had been dcumented and was waiting the requisite ministerial apprval. This wuld allw Luna Park t develp the adjacent sites. What sites? The develpment sites have nt been identified. The railway siding is the nly Gvernment wned adjacent land available fr develpment. In 2016, the gvernment reprted that the Umbrella Deed wuld nt g ahead. Page 2 f 6

3 Mre secret agreements In 2016, Luna Park Sydney Pty Limited s accunts t 30 June 2016 filed with ASIC reprted: n 7 July 2016, the parties t Umbrella Deed agreed that it was at an end. n 12 July 2016, it agreed t surrender its leasehld interest and develpment rights in respect f site C (Cliff tp area next t Harry s Park) fr $3.2m On 5 th August 2016, the Hn Dminic Perrttet MP issued a press release in which he advised the Gvernment had agreed with Luna Park Sydney t reacquire the Cliff Tp area. In additin he said: The agreement als cnfirms that a prpsed restructure f the existing lease arrangements f Luna Park and adjacent sites, cnsidered by the frmer NSW Gvernment in 2011, will nt prceed. Residents are curius that Luna Park Sydney reprts tw agreements and the Minister reprts ne agreement? Residents requested cpies f the agreement(s) but these requests were declined. On 11 th Nvember 2016, the Gvernment advised: As with many cmmercial agreements, the detailed terms f the Deed are subject t a cnfidentiality clause. This advice is cntrary t the advice given by Sir Laurence Street In 2006 Mr Justice Street was engaged by the Legislative Cuncil t evaluate claims fr cnfidentiality in respect f the agreements with Luna Park Sydney. He ruled: The public has a legitimate interest t have access t (Luna Park lease and ther dcuments) The public interest in the disclsure f (the dcuments)...as part f the prcess is verwhelming Adjacent sites Lts 1 t 4 Regarding Luna Park, there are fur sites invlved: lt 1 - the cliff tp site, lt 2 the car park site [the prperty f Multiplex], lt 3 the restaurant site [als the prperty f Multiplex], lt 4 the park site [the prperty f Luna Park]. The cliff tp land In 2006 a cmpany assciated with Mrs Seidler paid $5m fr the right t build a memrial park n a sectin f the Cliff Tp. This was dne. But the cntract als bliged the Luna Park Trust t carry ut equivalent beautificatin wrks n the adjacent cliff tp sites. This was nt dne. Page 3 f 6

4 In Octber 2016, a public meeting was tld by a representative f the NSW Gvernment that the landscaping f the cliff tp sites adjacent t that reclaimed by Ms. Seidler wuld nw g ahead and the Gvernment wuld be respnsible. In additin the Gvernment wuld pay $3.2m and reacquire the Cliff Tp site. Remaining questin What, then, was the adjacent site that culd be sld t repay the lease? Was it the rail siding? This seems the nly identifiable site. Why wrry? Plan f Management DA prcess The Luna Park Plan f Management requires that the Midway site (the pedestrian area) be free f buildings. Hwever, in 2013 the Hair Raiser ride was built n this site, unapprved. In August 2014 residents queried the issue with Planning Minister Gward wh replied: Luna Park will be served with Ntice f Intentin t Give an Order T require the remval f the ride Future rides where develpment cnsent is required, the Department will exhibit any develpment applicatin. In Nvember 2014 Luna Park made an Applicatin t perate the unapprved ride. Minister Gward apprved the applicatin t perate the ride. D Develpment cnditins apply t Luna Park? In 2003 the Develpment Cnsent required Luna Park t cmply with Lighting Strategy and Australian Standards In 2016 residents cmplained t the Department f Planning abut light spill frm rides in Luna Park (nt the decrative lighting). The Minister issued an rder requiring Luna Park t submit a cmpliance reprt in respect f the Develpment Cnsent In Nvember 2016 Luna Park respnded by taking the issue t the Land & Envirnment Curt with the claim Cnsent cnditins dn't apply after cnstructin Minister's rder versteps the mark In February 2017 the Minister withdrew the rder. In March 2017 we queried the psitin with the Department f Planning and we were advised It is unfrtunately nt straightfrward... there are: a number f develpment cnsents that cver the site (sme ld and sme mre recent than are n ur nline system) Page 4 f 6

5 existing use rights that cme frm the riginal develpment that als verlay part f the site (we are) lking thrugh these cnsents t determine their cmpliance with them, and als what apprval is being used t erect the temprary ride. This will enable us t determine if Luna Park is in cmpliance and if nt what actin can be taken Remval f heritage classificatin Mr. Muttn again raised the issue f the Luna Park reserve and its adjacent area. The New Suth Wales Gvernment claimed that the railway line was needed fr railway purpses frever. Hwever, in 2011, in respnse t a rail crpratin request, the heritage classificatin was remved fr the Wavertn underbridge, as it was n lnger f state significance. Why remve the heritage classificatin? Wendy s Secret Garden a garden with a use-by date Wendy s Secret Garden is lcated n part f the rail siding in Lavender Bay. It is currently leased t Nrth Sydney Cuncil by RailCrp. In 2016 the Gvernment (Rail Crpratin New Suth Wales) leased the site ccupied by Wendy s Garden (a part f the rail siding) t Nrth Sydney Cuncil fr 30 years with a 30-year ptin. At the time residents pndered why the garden was being leased fr a limited time rather than prclaiming it a park. Residents then became cncerned when they read Clause 19.1 f the lease which states: i) The New Suth Wales Gvernment has indicated that it will restructure the Lessr; and ii) The restructure f the Lessr may result in the Lessr's assets, rights and liabilities being transferred t ther gvernment agencies. Hence the newly signed lease n Wendy s Garden can be transferred t any gvernment agency, any external rganisatin, any develper etc. Why nt prclaim Wendy s Secret Garden a park? Transprt Administratin Act 2016 The Transprt Administratin Act 2016 nw enables the Minister t authrise the clsure f any railway line fr the purpses f r in cnnectin with develpment declared t be State significant infrastructure under the Envirnmental Planning and Assessment Act Hw des this affect the future f the Lavender Bay rail siding? Bttleneck In 2012, the Minister fr Transprt referred t the bttlenecks n the railway system (including that at the Wavertn rail siding) caused by intersectins that slw the train mvements. Page 5 f 6

6 In 2012 the Minister fr Transprt reprted the Lavender Bay Siding: As ne f 12 key bttlenecks n the western line where trains have t merge tracks with ther lines, wait fr ppsing trains t crss, r face delays due t slw barding and alighting at key statins. Taking trains ff the main line t send them dwn t Lavender Bay is a time- cnsuming exercise taking sme 11 minutes; it disrupts peratins and thereby reduces the train carrying capacity f the main line. Fr this reasn the utilisatin f the siding is minimal tw trains each day being the minimum necessary t keep the track peratinal. Cmmissining the first sectin f the Metr Line will increase the number f passengers transferring frm the Metr Line t Nrth Shre Line trains at Chatswd. It is planned t increase the frequency f trains n the Nrth Shre Line t three minute intervals (made pssible with the cmpletin f platfrm 0 at Hrnsby t facilitate a 3-minute turnarund f trains). Excavatin f spil frm Blues Pint Reserve The next prblem cmes with the excavatin f spil at Blues Pint Reserve fr the new Metr rail line. In particular, the issue cmes frm the remval f the spil frm the excavatin site. This was riginally slated t be remved by truck alng Blues Pint Rad, but representatin by the residents pressured the respnsible authrity t als cnsider remval by barge. Residents pinted ut that such spil culd be used t enhance landscaping f nearby parks, and in particular, it culd be used fr landscaping and enhancing the park area adjacent t the rail siding. It culd be mved there by barge, and this wuld preclude the prblems f remval f the spil alng Blues Pint Rad. Pst Meeting Nte: Since the meeting, the Gvernment has: (a) (b) annunced tw cnstructin cmpanies had tendered fr the wrk; and indicated that the decisin n hw the spil is t be remved falls t the successful bidder. The cncern? The Gvernment appears t be stepping back frm taking respnsibility. That cncern will cause us t apprach each bidder and seek t establish a dialgue with a view t influencing the decisin n spil remval. We believe mbilising the cmmunity will cause the bidders t engage with residents. Mr. Zimmerman then addressed the meeting. He gave unequivcal supprt fr the wrk f the Chair and Mr. Muttn in bringing these issues t public attentin, and stated that he cmpletely supprted the future f the Sydney Harbur HighLine. He pinted ut the enrmus ptential f the HighLine fr turism in New Suth Wales, and said that he was supprtive f the effrts f the rganizing cmmittee t wrk with the railway authrities in trying t secure the future f the rail siding t never be sld frm public wnership. Ms. Gibsn then addressed the meeting. She said that she was impressed by the way that the cmmunity was cming ut in supprt f this prject. She cngratulated Mr. Muttn n his assembly f the facts, and f the cmmittee that had rganized the cmmemrative train ride, nting that it wuld be a great turist attractin. Page 6 f 6

ASISA STANDARD ON UNCLAIMED ASSETS

ASISA STANDARD ON UNCLAIMED ASSETS 1. Backgrund This Standard prvides guidance fr members n the treatment f unclaimed assets. The LOA Cde n Unclaimed Assets was used as the basis t develp this Standard