Growth Centres (Development Corporations) Act 1974
A development corporation is charged with the responsibility of promoting, co-ordinating, managing and securing the orderly and economic development of the growth centre of which it is constituted.
Part 3 of the Growth Centres Act outlines the responsibilities, powers, authorities, duties and functions of development corporations. Section 7(2) gives development corporations some more specific powers, authorities, duties and functions without affecting the general responsibilities outlined in Section 7(1).
When the Redfern-Waterloo Authority was dissolved, a number of its residual obligations and responsibilities were 'saved' and transferred to the Growth Centres Act. These included the responsibility to collect Affordable Housing contributions (and other contributions) from new developments in the Redfern-Waterloo precinct and use those funds to provide Affordable Housing and public facilities in the area. These saved obligations and responsibilities are now managed by the Development Corporation.
A development corporation has no inherent planning powers under the Growth Centres Act, however it can be delegated powers, duties and functions from other Acts pursuant to Section 7(2)(e). This could include, for example, planning powers delegated to it by the Minister from the Environmental Planning and Assessment Act 1979. However, no such delegations currently exist.