Crighton Properties has been hit with a $700,000 fee by Mudgee Council (NSW) for street and footpath work to accompany their $65 million retirement village development. This is a significant fee. If Stage One has a value of $10 million, this equates to 7% – a heavy cash flow impost, especially given villages provide a community service and provide their own roads, lights, and other services while still paying rates.
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