❓ A WA parliamentary question probes the financial agreements and responsibilities between LandCorp and Cedar Woods regarding the proposed Mangles Bay Marina development, specifically concerning project approvals, construction costs, profit/loss sharing, and future maintenance.
AnsweredQoN 5269Legislative Council
QuestionView source ↗
I refer to the proposed Mangles Bay Marina development, and ask -
(1) Is there an agreement or understanding between LandCorp (or any other State Government department or agency) and Cedar Woods Pty Ltd in relation to this project and, if so, what is the agreement or understanding in regard to their respective -
(a) responsibilities for meeting the further costs of obtaining project approvals;
(b) responsibilities for meeting the costs of construction if the project goes ahead;
(c) shares of the project's profits and losses if it goes ahead;
(d) responsibilities for meeting the cost of the remedial and maintenance work that may be required after construction; and
(e) responsibilities for the payment of a bond as security against the future need for the payment of such remedial and maintenance work, and the amount and scope of such bond?
(2) If there is no such agreement or understanding, is it the State Government's intention that LandCorp (or any other State Government department or agency) will -
(a) make further contributions to the costs of obtaining project approvals;
(b) make further contributions to the costs of construction if the project goes ahead;
(c) take a share of the project's profits and / or losses, if the project goes ahead;
(d) meet any of the costs of the remedial and maintenance work on the marina and canals that may be required after construction, including any costs that the private sector developer is unable to cover; and
(e) contribute to the payment of a bond as security against the future need for such remedial and maintenance work?
(3) Will the State Government ensure that none of the costs of the remedial and maintenance work on the marina and canals would have to be met by the City of Rockingham?
(1) Is there an agreement or understanding between LandCorp (or any other State Government department or agency) and Cedar Woods Pty Ltd in relation to this project and, if so, what is the agreement or understanding in regard to their respective -
(a) responsibilities for meeting the further costs of obtaining project approvals;
(b) responsibilities for meeting the costs of construction if the project goes ahead;
(c) shares of the project's profits and losses if it goes ahead;
(d) responsibilities for meeting the cost of the remedial and maintenance work that may be required after construction; and
(e) responsibilities for the payment of a bond as security against the future need for the payment of such remedial and maintenance work, and the amount and scope of such bond?
(2) If there is no such agreement or understanding, is it the State Government's intention that LandCorp (or any other State Government department or agency) will -
(a) make further contributions to the costs of obtaining project approvals;
(b) make further contributions to the costs of construction if the project goes ahead;
(c) take a share of the project's profits and / or losses, if the project goes ahead;
(d) meet any of the costs of the remedial and maintenance work on the marina and canals that may be required after construction, including any costs that the private sector developer is unable to cover; and
(e) contribute to the payment of a bond as security against the future need for such remedial and maintenance work?
(3) Will the State Government ensure that none of the costs of the remedial and maintenance work on the marina and canals would have to be met by the City of Rockingham?
AnswerView source ↗
Answered
1 May 2012
Responded by
Parliamentary Secretary representing the Minister for Lands
Response time
54 days
Answer
1 (a) Cedar Woods is responsible for the funding of Phase 2 - obtaining statutory and environmental approvals.
(b) If the project goes ahead, the construction costs of the marina and land development are proposed to be shared between Cedar Woods and LandCorp.
(c) The Agreement provides for sharing of risks, profits and losses from the marina and land development components of the project.
(d) As part of the rezoning, it is anticipated a Deed of Agreement will be prepared regarding the future waterways management and the marina manager.
(e) Refer to 1(d).
2 (a-e) Not applicable.
3 Refer to 1(d).
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1 (a) Cedar Woods is responsible for the funding of Phase 2 - obtaining statutory and environmental approvals.
(b) If the project goes ahead, the construction costs of the marina and land development are proposed to be shared between Cedar Woods and LandCorp.
(c) The Agreement provides for sharing of risks, profits and losses from the marina and land development components of the project.
(d) As part of the rezoning, it is anticipated a Deed of Agreement will be prepared regarding the future waterways management and the marina manager.
(e) Refer to 1(d).
2 (a-e) Not applicable.
3 Refer to 1(d).
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
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