LAKE Macquarie council has committed to a 28-year lease of 6.7 hectares of community land in Hillsborough to Newcastle Basketball for its new 10-court stadium.
The council endorsed the lease at its meeting on Monday night after the proposed terms were exhibited earlier this year.
The council had voted in November to execute an agreement to lease, which included a licence for construction followed by a lease.
It applied to the Local Government Minister in May for consent to grant a 30-year lease, but it was later determined that the lease and licence agreements could be construed as one, and that a revised lease term of 28 years be sought.
Under the terms of the lease, Newcastle Basketball will be responsible for the payment of water and council rates.
Five submissions were received during the lease's exhibition, mainly raising concerns about traffic impacts on Hillsborough Road.
The DA for the stadium is still on exhibition and about a dozen submissions airing similar concerns have been lodged in that process.
The Hunter and Central Coast Regional Planning Panel will determine the DA later this year. If approved, the $20 million facility is expected to create at least 100 jobs during planning and construction.
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