Unsolicited investment ProPosals and the decision Process for manUka Green April 2016
Overview 1. 2. 3. What is an How is an “unsolicited What has happened and “unsolicited proposal”? proposal” evaluated? what are the future steps?
Who am I? Gary Rake • Deputy Director-General Environment and Planning Directorate (and, for transparency, also a Kingston resident and tjcket-holder for AFL matches at Manuka)
What is an “Unsolicited Proposal”? Investment Partnership Proposal Framework This process is used where a This process enables major proponent wants to invest their public-private partnerships (PPPs) own money but needs ACT for the delivery of public Government support or approval infrastructure Manuka Green is being assessed under the Investment Proposal framework.
The basic rules • New ideas • Does not circumvent statutory processes • Implementatjon of existjng ideas • Can not interfere with an existjng • “First mover” advantage competjtjve process • Documented process • Commercial confjdentjality • Safeguards to protect does not override public community interest accountability
Investment Proposal Guidelines 2013 2014 ACT Government ACT Government created Invest Canberra endorsed the Investment to support inbound Proposal Guidelines investment The ACT Investment Proposal Guidelines are publicly available.
How does it work? 1. 2. 3. Concept Submission Detailed Business Case Commercial Relatjonship Efgectjvely a Proponent develops Progress the relevant “completeness check” a detailed business commercial relatjonship case for government Administratjve decision consideratjon Is the ACT Government willing to consider a detailed investment proposal?
Giants proposal tjmeline aUG dec may feb 2014 2015 2016 2014 • Government Offjcials • Giants • Assessment Panel • Giants & Grocon become aware Phase 1 concept Considers Giants Formal submission submitued concept and of proposal recommends it • Giants • Referred to Invest progresses to Phase 2 Public announcement Canberra for case • Invest Canberra management • Giants & Grocon Prepares a Partjcipatjon Initjal public Agreement outlining presentatjon and respectjve roles in early consultatjon Phase 2 (signed in with community June 2015) Invest Canberra have facilitated ACT Government discussions with the proponents throughout
What happens now? Assessment Panel Assessment Panel Assessment Panel ACT Government Undertake formal Prepare advice for Decision on whether to Community evaluatjon ACT Government accept or reject proposal Consultatjon consideratjon Advice from Uniqueness key agencies Optjons eg various market mechanisms Independent specialist advice if needed Rigorous assessment “high bar”
What happens if accepted? Additjonal Processes Heritage Development Consider Consider Assessment Assessment Territory Plan Development issues Control Plan Full precinct Including traffjc issues assessment and parking
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