Summary and duration of the Priority Project. In the IGA, the Commonwealth agreed in-principle to provide funding to projects in New South Wales, subject to Due Diligence and compliance with the Commonwealth’s Business Case Information Requirements and this Agreement. In the IGA, the Commonwealth agreed in-principle to provide funding of up to $708 million for Priority Projects to be delivered by the State, subject to the proposed Priority Project’s satisfying the Commonwealth's Due Diligence Assessment. The State submitted a Business Case to the Commonwealth for a proposed NSW Nimmie‑▇▇▇▇▇ System Enhanced Environmental Water Delivery Priority Project on 4 July 2012 (the Business Case). The Commonwealth's Due Diligence assessment of the Proposed Project against the Business Case Information Requirements was completed in June 2013. The Proposed Project was approved for funding of up to $180,133,974 (excluding GST) by the Commonwealth Minister for Sustainability, Water, Environment, Population and Communities on 24 June 2013, for the agreed project only, subject to conditions. The conditions of the final Due Diligence are now reflected in this Project Schedule. A Heads of Agreement for the implementation of the ▇▇▇▇▇▇-▇▇▇▇▇ System Enhanced Environmental Water Delivery Priority Project was signed by the Commonwealth Minister for Sustainability, Water, Environment, Population and Communities and was signed by the NSW Minister for Primary Industries on 28 June 2013. This Priority Project consists of the following components: The purchase of 19 irrigated farming properties with a total area of 84,417 hectares (the ▇▇▇▇▇▇-▇▇▇▇▇ Land), the ownership of which will be transferred to the State, and the transfer to the Commonwealth of 381,000 unit shares of Lowbidgee Supplementary Water Entitlement (the ▇▇▇▇▇▇-▇▇▇▇▇ Entitlement) in one single licence; Infrastructure reconfiguration activities; Land transition arrangements; Local community offset projects; Water management actions; and Project management and governance. Project Milestones for this Priority Project are identified in Item C of this Project Schedule. This Priority Project commences on the date this Project Schedule is signed by the Commonwealth and must be completed by 30 June 2019, unless otherwise agreed in writing by the Parties. The purpose of this Priority Project is to: achieve water recovery which provides a substantial contribution towards ‘bridging the gap’ under the Basin Plan; implement management arrangements for the Nimmie‑▇▇▇▇▇ area which give priority to enhancement of environmental and Aboriginal cultural outcomes within and potentially beyond the Nimmie‑▇▇▇▇▇ area; implement arrangements for the future commercial use of parts of the ▇▇▇▇▇▇-▇▇▇▇▇ Land that are consistent with the environmental restoration of key areas, ecological objectives and Aboriginal cultural values; restore the floodplain health and ecosystem functions in the Nimmie‑▇▇▇▇▇ area of the Lowbidgee floodplain; establish secure and lasting protection for the ecological assets, floodways and habitats in the ▇▇▇▇▇▇-▇▇▇▇▇ area; and plan and undertake activities to make an assessment against convention listing requirements with a view to a potential joint nomination of high ecological value areas of the Lowbidgee floodplain for inclusion on the List of Wetlands of International Importance under the Ramsar Convention. The Priority Project will recognise the potential system level environmental benefits of Basin‑scale significance which can be achieved through protecting and restoring the local environment, relaxing constraints through ▇▇▇▇▇▇-▇▇▇▇▇ Land, allowing for improved coordination of watering events between the Murrumbidgee and other rivers, and helping to ‘bridge the gap’ in the Murrumbidgee valley. The Priority Project will assist in determining the technical feasibility of providing further SDL adjustment for the Murrumbidgee catchment under the process specified in the Basin Plan. The Priority Project, through the implementation of Prerequisite Policy Measures delivered as part of the Basin Plan, will provide substantially enhanced capacity for improved environmental watering outcomes including through relaxing constraints, shepherding and re-crediting of flows for the ▇▇▇▇▇▇-▇▇▇▇▇ Entitlement in the short term and (potentially) for other entitlements in the longer term (subject to there being no adverse third party impacts). The Priority Project will assist the State to meet its commitments to the IGA and meet Reform Requirements. The Priority Project will result in the transfer of a water entitlement to the Commonwealth.
Appears in 1 contract
Sources: Variation Agreement
Summary and duration of the Priority Project. In the IGA, the Commonwealth agreed in-principle to provide funding to projects in New South Wales, subject to Due Diligence and compliance with the Commonwealth’s Business Case Information Requirements and this Agreement. In the IGA, the Commonwealth agreed in-principle to provide funding of up to $708 million for Priority Projects to be delivered by the State, subject to the proposed Priority Project’s satisfying the Commonwealth's Due Diligence Assessment. The State submitted a Business Case to the Commonwealth for a proposed NSW Nimmie‑▇▇▇▇▇ System Enhanced Environmental Water Delivery Priority Project on 4 July 2012 (the Business Case). The Commonwealth's Due Diligence assessment of the Proposed Project against the Business Case Information Requirements was completed in June 2013. The Proposed Project was approved for funding of up to $180,133,974 (excluding GST) by the Commonwealth Minister for Sustainability, Water, Environment, Population and Communities on 24 June 2013, for the agreed project only, subject to conditions. The conditions of the final Due Diligence are now reflected in this Project Schedule. On 31 May 2019, the State advised the Commonwealth that due to underspends in deliverying the project, the funding required for this Project is up to $172,203,478 and this is now reflected in this Project Schedule. A Heads of Agreement for the implementation of the ▇▇▇▇▇▇-▇▇▇▇▇ System Enhanced Environmental Water Delivery Priority Project was signed by the Commonwealth Minister for Sustainability, Water, Environment, Population and Communities and was signed by the NSW Minister for Primary Industries on 28 June 2013. This Priority Project consists of the following components: The purchase of 19 irrigated farming properties with a total area of 84,417 hectares (the ▇▇▇▇▇▇-▇▇▇▇▇ Land), the ownership of which will be transferred to the State, and the transfer to the Commonwealth of 381,000 unit shares of Lowbidgee Supplementary Water Entitlement (the ▇▇▇▇▇▇-▇▇▇▇▇ Entitlement) in one single licence; Infrastructure reconfiguration activities; Land transition arrangements; Local community offset projects; Water management actions; and Project management and governance. Project Milestones for this Priority Project are identified in Item C of this Project Schedule. This Priority Project commences on the date this Project Schedule is signed by the Commonwealth and must be completed by 30 June August 2019, unless otherwise agreed in writing by the Parties. The purpose of this Priority Project is to: achieve water recovery which provides a substantial contribution towards ‘bridging the gap’ under the Basin Plan; implement management arrangements for the Nimmie‑▇▇▇▇▇ area which give priority to enhancement of environmental and Aboriginal cultural outcomes within and potentially beyond the Nimmie‑▇▇▇▇▇ area; implement arrangements for the future commercial use of parts of the ▇▇▇▇▇▇-▇▇▇▇▇ Land that are consistent with the environmental restoration of key areas, ecological objectives and Aboriginal cultural values; restore the floodplain health and ecosystem functions in the Nimmie‑▇▇▇▇▇ area of the Lowbidgee floodplain; establish secure and lasting protection for the ecological assets, floodways and habitats in the ▇▇▇▇▇▇-▇▇▇▇▇ area; and plan and undertake activities to make an assessment against convention listing requirements with a view to a potential joint nomination of high ecological value areas of the Lowbidgee floodplain for inclusion on the List of Wetlands of International Importance under the Ramsar Convention. The Priority Project will recognise the potential system level environmental benefits of Basin‑scale significance which can be achieved through protecting and restoring the local environment, relaxing constraints through ▇▇▇▇▇▇-▇▇▇▇▇ Land, allowing for improved coordination of watering events between the Murrumbidgee and other rivers, and helping to ‘bridge the gap’ in the Murrumbidgee valley. The Priority Project will assist in determining the technical feasibility of providing further SDL adjustment for the Murrumbidgee catchment under the process specified in the Basin Plan. The Priority Project, through the implementation of Prerequisite Policy Measures delivered as part of the Basin Plan, will provide substantially enhanced capacity for improved environmental watering outcomes including through relaxing constraints, shepherding and re-crediting of flows for the ▇▇▇▇▇▇-▇▇▇▇▇ Entitlement in the short term and (potentially) for other entitlements in the longer term (subject to there being no adverse third party impacts). The Priority Project will assist the State to meet its commitments to the IGA and meet Reform Requirements. The Priority Project will result in the transfer of a water entitlement to the Commonwealth.
Appears in 1 contract
Sources: Variation Agreement