Commercial and financial redress
This form of redress recognises the economic loss suffered by Te Rarawa arising from breaches by the Crown of its Treaty obligations. Commercial and financial redress is aimed at providing Te Rarawa with resources to assist in the development of economic and social well-being for whānau and hapū.
• Total commercial value
A package worth between $65-70M made up of cash, interest, land (including discounted transfer values), and carbon credits.
• Cash quantum of $33.84M
A cash transfer of $33.84M, nearly $7M of which will be paid on the signing of the Deed of Settlement.
• Interest on quantum
Interest on the quantum amount at the official cash rate from January 2010, estimated to be over $2M by settlement.
• Accumulated rentals from Crown forests
Twenty per cent of the accumulated rental on the Peninsula Forest and 100% on the Takahue/Kaitāia Forests estimated to be more than $2.2M by settlement.
• Crown forest land
Peninsula Forest land (52,895 acres) to be shared with Ngāti Kuri, Te Aupōuri and Ngāi Takoto. Te Rarawa will receive a 20% share, equivalent to more than 10,500 acres (4,200 ha). All of the Takahue/Kaitaia Forest lands amounting to 1315 acres (526 ha). Transfer costs will be covered by accumulated rentals.
• Carbon credits
NZ emissions trading units estimated to be worth $1.5M.
• Transfer of Crown farms
Transfer of 6198 acres (2479 ha) Sweetwater Landcorp dairy farms, partially shared with Ngāi Takoto, and 5000 acre (1970 ha) Te Karae sheep and beef farm on favourable terms.
• Discounted land transfer cost
Agreed transfer costs for various lands represent an estimated $25M discount.
• Purchase of schools
Purchase and lease back of school lands. Six at the time of settlement and three in a deferred selection process.
• Purchase of other Crown properties
The purchase of 16 Crown properties from the land bank and LINZ totalling approximately 60 acres (23 ha) at a negotiated land banked transfer cost.
• Deferred selection properties
An opportunity to purchase up to five additional properties within two years including the Kaitāia Courthouse and schools.
• Right of first refusal
Right of first refusal over surplus Crown land for the next 172 years. Arrangement with other Te Hiku Iwi over shared areas.
This form of redress recognises the economic loss suffered by Te Rarawa arising from breaches by the Crown of its Treaty obligations. Commercial and financial redress is aimed at providing Te Rarawa with resources to assist in the development of economic and social well-being for whānau and hapū.
• Total commercial value
A package worth between $65-70M made up of cash, interest, land (including discounted transfer values), and carbon credits.
• Cash quantum of $33.84M
A cash transfer of $33.84M, nearly $7M of which will be paid on the signing of the Deed of Settlement.
• Interest on quantum
Interest on the quantum amount at the official cash rate from January 2010, estimated to be over $2M by settlement.
• Accumulated rentals from Crown forests
Twenty per cent of the accumulated rental on the Peninsula Forest and 100% on the Takahue/Kaitāia Forests estimated to be more than $2.2M by settlement.
• Crown forest land
Peninsula Forest land (52,895 acres) to be shared with Ngāti Kuri, Te Aupōuri and Ngāi Takoto. Te Rarawa will receive a 20% share, equivalent to more than 10,500 acres (4,200 ha). All of the Takahue/Kaitaia Forest lands amounting to 1315 acres (526 ha). Transfer costs will be covered by accumulated rentals.
• Carbon credits
NZ emissions trading units estimated to be worth $1.5M.
• Transfer of Crown farms
Transfer of 6198 acres (2479 ha) Sweetwater Landcorp dairy farms, partially shared with Ngāi Takoto, and 5000 acre (1970 ha) Te Karae sheep and beef farm on favourable terms.
• Discounted land transfer cost
Agreed transfer costs for various lands represent an estimated $25M discount.
• Purchase of schools
Purchase and lease back of school lands. Six at the time of settlement and three in a deferred selection process.
• Purchase of other Crown properties
The purchase of 16 Crown properties from the land bank and LINZ totalling approximately 60 acres (23 ha) at a negotiated land banked transfer cost.
• Deferred selection properties
An opportunity to purchase up to five additional properties within two years including the Kaitāia Courthouse and schools.
• Right of first refusal
Right of first refusal over surplus Crown land for the next 172 years. Arrangement with other Te Hiku Iwi over shared areas.
