Submission to WCC Annual Plan Committee

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Submission toWCC Annual Plan Committee
051530195
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Lyall Bay Reef Trust

• WCC has 265,000 in this current year set aside
  for the reef
• The Reef Trust has raised more than the 400,000
  from sources outside of WCC already 1.138m
• Our objective is to construct between March and
  September 2006
• Therefore the WCC is committed to make provision
  for the 265,000 in the 2005/2006 Annual Plan

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Harbour Entrance Dredging

• CentrePort expects to dredge between March and
  September 2006
• CentrePort confirms will make sand available from
  this for the reef
• Trust has no resource consent to get sand
• There is no other viable source
• Dovetailing with CentrePort saves 200,000

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What the Trust seeks from WCC

• An interest free loan of 500,000 repayable at
  100,000 pa over 5 years from WIAL ad sites
• A non-recourse loan of 350,000 repayable from
  corporate sponsorship
• Reconfirmation of the 265,000 for construction
  in 2005/2006 Annual Plan and if necessary
  2006/2007 Annual Plan
• We can then construct when CentrePort dredges

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The Essential Elements

• The Reef Trust project is a partnership with WCC
• We have procured 1.138m from sources outside of
  WCC
• We have secured the resource consents to proceed
• There is a once only opportunity to build the
  reef when CentrePort dredges next year
• The Reef will be a free public recreational
  amenity and tourist attraction on the South Coast
• Without WCC support now 5 years of dedicated work
  and hundreds of thousands of of value will be
  lost to the community

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Funding Obtained by Reef Trust (excluding WCC)
Years Source Public donations 2001-2004 9,613
.00 Interest 2001-2004 1,126.00 Advertising
(Trust Brochure) 2002 2,460.00 Fundraising
(sausage sizzles, coke etc) 2004 1,672.00 NZ
Community Trust (local pubs) 2003 9,337.00 Lion
Foundation 2003 400.00 Weta Collectibles
Ltd 2003 4,000.00 Wellington International
Airport Ltd (WIAL)(GST inclu.) 2003 33,750.00 Gr
eater Wellington Regional Council (paid for
commissioners) 2003 14,625.00 Kensington Swan
(fees not charged on services)1 2003-2005 127,66
6.00 Jack Jeffs Trust 2004 5,000.00 Peter
Fitzsimmons 2005 5,000.00 Daryl Sykes website
hosting 2001-2005 3,300.00 Subtotal 217,949.00


1 Refer time print out
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Funding Obtained by Reef Trust (excluding WCC)
Construction Only Community First Foundation
(paid) 2005 10,000.00 Community Trust of
Wellington (paid) 2005 25,000.00 Sargood Bequest
(paid) Mar 2005 4,500.00 The Southern Trust
(paid once fully funded) Dec 2004 50,000.00 Trust
House (paid) Dec 2004 3,000.00 Unison Trust
(paid) Dec 2004 25,000.00 Lottery General
(uplift by Nov 2005 or extend) 2003 100,000.00
Sponsorship paid/pledged Subtotal 435,449.00 S
ponsorship Offers Received Centre Port
dredging of sand for reef 190,080.00 cost of
getting dredge to site 12,720.00 WIAL
advertisingsites (perimeter fence Warehouse
Bldg) 500,000.00 Total Funding (ex WCC)
1,138,249.00
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Reef Construction Cost Estimate ASR Project
Management 48,800.00 Construction Costs as per
spreadsheet 1,326,216.00 Greater Wellington
Regional Council Bond 50,000.00 Legal
Fees 15,375.00 Monitoring set up
NIWA 38,750.00 annual x 4 years 70,000.00 Maint
enance ? no provision 1,549,141.00 plus
GST say 1.56m
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Lyall Bay Reef Funding Proposal Existing
Construction Grants 217,500.00 Cash at
bank 2,500.00 CentrePort Dredge
Offer 200,000.00 WCC funds in 04-05 Annual
Plan 265,000.00 Grants to come
(estimate1) 25,000.00 Further WCC grant (non
recourse loan2) 350,000.00 WCC loan (interest
free3) 500,000.00 1,560,000.00
1 SkyCity/Phoenix remain possibilities Trust
will make further applications
2 The Reef Trust would be committed to seeking
naming rights sponsors from now to repay this
starting with the 3 interested parties in the
expectation of a definitive commitment before or
during construction
3 Repayable _at_ 100,000 per annum over 5 years
from the lease to Vivid Outdoors Ltd