It is resolved that:
(A) Council note the acquisition by compulsory process of the City's freehold interest in road known as De Mestre Place;
(B) Council note that compensation for the compulsory acquisition of De Mestre Place is assessed under the Roads Act 1993 as detailed within the report;
(C) Council endorse the compulsory acquisition by agreement under the Land Acquisition (Just Terms Compensation) Act 1991 by Sydney Metro of Lot 1 in Deposited Plan 1003818 being a freehold stratum lot, limited in height and depth within De Mestre Place; and
(D) Council endorse the negotiated compensation amount and the commercial terms for the acquisition of the freehold stratum as detailed within confidential Attachment C to the subject report and delegate authority to the Chief Executive Officer to finalise an agreement generally in accordance with these terms.
Carried unanimously.
X036064