The Urban Renewal Cost Recovery Scheme (URCRS) was prepared to facilitate funding required to provide major flooding and drainage infrastructure for major urban renewal precincts in Melbourne.
About the Urban Renewal Cost Recovery Scheme (URCRS)
The Victorian Planning Authority (VPA) prepared the Arden Structure Plan and Planning Scheme Amendment (C407melb). However, the approved amendment did not provide the necessary referral mechanisms required to enable the URCRS approach.
Melbourne Water is working closely with Department of Transport and Planning (DTP), Development Victoria (DV), City of Melbourne (CoM) to explore alternative funding mechanisms for the major flooding and drainage infrastructure to enable development of Melbourne’s urban renewal precincts.
Melbourne Water will continue to communicate with its customers as these mechanisms are finalised.