Other major responsibilities
Newcastle Port Community Contribution
The Newcastle Port Community Contribution is an initiative to provide funding for new community infrastructure around the Port of Newcastle. The Hunter Development Corporation administers the NPCC and makes recommendations to Government on projects to be funded.
Under the long-term lease of the Port of Newcastle, a minimum of $1 million per year is made available. The initiative aims to support the costs of improving and maintaining landside infrastructure and community amenity in the environs of the Port of Newcastle.
Earlier this year the following grants worth $1.265 million were made:
• $500,000 to Stage 2 of the redevelopment of one of Newcastle's most recognized landmarks, Nobby's Lighthouse;
• $500,000 for weather-proofing, landscaping, and heritage interpretation works at the historic Carrington Hydraulic Engine House;
• $170,000 to launch the historic steamship William the
Fourth (crane the historic vessel into the water and dock at a home berth to be constructed at Lee Wharf, Honeysuckle);
• $50,000 to the Honeysuckle Community Group for the 2017 Winter Heat Festival; and
• $45,000 to the Carrington Community Council for construction of new cricket nets.
These are very worthy projects that will enhance the port environment for tourists and locals alike.
The next round of funding opened for applications in April 2017 and recently closed. A healthy number of applications were received and an announcement on future projects will be made soon.
Hunter Infrastructure & Investment Fund
Through the Hunter Infrastructure and Investment Fund (HIIF) the NSW Government has funded projects worth almost $450 million since 2011.
The projects are located across the Hunter from Lake Macquarie, to Newcastle and Port Stephens, to Maitland and the Upper Hunter.
The Hunter Development Corporation has coordinated the funding program and continues to oversee the delivery of remaining projects under the Fund.
The recent Budget allocated $75 million to the HIIF to enable the progression of existing projects such as those announced in late 2016 and also the Newcastle Mines Grouting Fund.
Newcastle Mines Grouting Fund
The $17 million Newcastle Mines Grouting Fund is administered by Hunter Development Corporation. Mine subsidence affects the majority of the city area. It impacts most development particularly for proposals that exceed three storeys in height. The costs to investigate and grout pose a significant upfront financial burden that is often difficult to define at due diligence and feasibility stage. The cost can often seriously compromise development feasibility to the extent that the project does not proceed due to the lack of certainty around this unique development constraint.
The objective of the Fund is to provide financial certainty for proponents of development within Mine Subsidence districts in the Newcastle CBD and provide greater investment confidence in comparison to the historically ad hoc site by site analysis and treatment.