"In years to come I believe people will look back and see this project as a big step forward for public transport in Randwick City. While there will be short term disruption, this Development Agreement secures improvements to the project that will benefit Randwick City residents into the future," Mayor Nash said.

The $1.6 billion State Government project will see light rail built from Circular Quay to Randwick and Kingsford. The project was given planning approval in June 2014 with construction expected to commence in 2015.

"The Development Agreement addresses areas of community concern about the project and secures some significant wins for Randwick City residents and businesses.

"It is a fantastic result for us," he said. "We now have more certainty and more input into how the project will be delivered throughout Randwick and Kingsford.

"Council has been campaigning to bring light rail to Randwick for many years, and now we are set to see this become a reality. Signing this agreement helps us make a great project even better for our local residents, businesses and the thousands who travel to the Prince of Wales hospital complex, the University of NSW and the surrounding education precinct, as well as Royal Randwick Racecourse and Centennial Parklands.

"Bringing light rail to Randwick City will transform our public transport system and bring considerable benefits to our area. It will create up to 700 jobs as a direct result of construction, and it will support the growth of thousands of jobs in education, health and research in Randwick City," Mayor Nash said. 

Key elements of the Development Agreement include:

• support from TfNSW to return 100-120 parking spots on Anzac Parade, Kensington during off-peak hours;
• the opportunity to acquire land to build a car park in Rainbow Street, Kingsford at market value;
• preventing heavy maintenance on the intended light rail stabling facility site;
• agreement to consult an independent arborist before the removal of any contentious trees or tree limbs;
• agreement from TfNSW to modify the planning approval for the light rail project to reflect Council's alternative location for the Randwick interchange should it be demonstrated to TfNSW that such an alternative is feasible;
• defining the cleaning, maintenance and graffiti removal obligations of TfNSW;
• ensuring that TfNSW provides for the future proofing of Council assets such as storm water pipes and drainage;
• agreeing to a high quality urban design outcome which enhances Council's public spaces and streetscapes and integrates safely into the community.

The agreement was signed by Mayor Scott Nash, Randwick Council Acting General Manager Sima Truuvert, Transport for NSW Deputy Director General Chris Lock and witnessed by Randwick Councillor Murray Matson and Transport for NSW Legal Counsel Barbara Filipowski.