__Crown forest land
Peninsula forest land
Te Rarawa, Te Aupōuri, Ngāi Takoto and Ngāti Kuri have agreed to share the 21,283 ha (53,208 acre) Crown forestry land on the Aupouri peninsula. This will be jointly owned as tenants in common and vested in a body to be established for the purpose. The four Iwi are committed to managing the forest as a single unit. Te Rarawa will receive a 20% share as tenants in common of the Crown forest land on the Aupōuri peninsula. The transfer cost will be covered by the accumulated rentals.
Peninsula forest land
Te Rarawa, Te Aupōuri, Ngāi Takoto and Ngāti Kuri have agreed to share the 21,283 ha (53,208 acre) Crown forestry land on the Aupouri peninsula. This will be jointly owned as tenants in common and vested in a body to be established for the purpose. The four Iwi are committed to managing the forest as a single unit. Te Rarawa will receive a 20% share as tenants in common of the Crown forest land on the Aupōuri peninsula. The transfer cost will be covered by the accumulated rentals.
_Takahue/ Kaitāia Forest
The Crown forests on the Takahue/Kaitaia lands south west of the township of Kaitaia comprising of five small blocks totalling 526 ha (1,316 acres) will be transferred to Te Rarawa. While the land will be owned by Te Rarawa it is under licence to Juken NZ Ltd and it will be managed alongside the peninsula forest lands with other Iwi. The transfer value will be covered by the accumulated rentals.
The Crown forests on the Takahue/Kaitaia lands south west of the township of Kaitaia comprising of five small blocks totalling 526 ha (1,316 acres) will be transferred to Te Rarawa. While the land will be owned by Te Rarawa it is under licence to Juken NZ Ltd and it will be managed alongside the peninsula forest lands with other Iwi. The transfer value will be covered by the accumulated rentals.
__Accumulated rentals
Each Iwi will also receive an equal share of the accumulated rentals held by the Crown Forestry Rental Trust. This amounts to approximately $2.2M for Te Rarawa. The land will continue to be licensed to Juken NZ who will pay an annual license fee.
NZ Carbon Emissions Units (NZUs)
Under the Climate Change Response Act 2002, Te Hiku Iwi will be entitled to receive 18 NZUs for each transferred hectare of Crown forestry Licensed Land that is classed as eligible pre-1990 forest land. The Act currently provides for the transfer of 7 NZUs per hectare by 31 December 2012 and 11 NZUs after 31 December 2012. The Government has signalled it may reduce or cancel the second tranche of NZUs if international rules permit offsetting after 2012. These units could be worth between $1-$1.8M to Te Rarawa , but is dependant on price fluctuations and world markets.
Each Iwi will also receive an equal share of the accumulated rentals held by the Crown Forestry Rental Trust. This amounts to approximately $2.2M for Te Rarawa. The land will continue to be licensed to Juken NZ who will pay an annual license fee.
NZ Carbon Emissions Units (NZUs)
Under the Climate Change Response Act 2002, Te Hiku Iwi will be entitled to receive 18 NZUs for each transferred hectare of Crown forestry Licensed Land that is classed as eligible pre-1990 forest land. The Act currently provides for the transfer of 7 NZUs per hectare by 31 December 2012 and 11 NZUs after 31 December 2012. The Government has signalled it may reduce or cancel the second tranche of NZUs if international rules permit offsetting after 2012. These units could be worth between $1-$1.8M to Te Rarawa , but is dependant on price fluctuations and world markets.