2019-07-15 GC Agenda - Attachment 1 to Item 8 - Alliance and Funding Agreement - TNC and Noosa Council

              7.3.4.   use all reasonable endeavours to obtain all local government permits and
                       approvals associated with shellfish reef restoration Phase II and Phase III.
                       Costs associated with applying for and obtaining local government permits
                       and approvals will be funded from the Grant payable to TNC; and
              7.3.5.   investigate opportunities for TNC to use open storage space to temporarily
                       store materials associated with reef construction (e.g. recycled shells) and
                       provide plant equipment such as excavators and trucks and their operators
                       as in-kind contributions towards construction of Phase II and Phase III oyster
                       reef restoration where appropriate;
              7.3.6.   assist in locating secure office space for up to two TNC employees on a
                       casual basis.


8.   FUNDING
              Both Parties will contribute to the costs associated with the Project to the value of
              AUD$1.2 million exclusive of GST each over 3 years.
              For clarity, subject to this Agreement, the Grant agreed to be paid by Noosa Council
              is the limit of Noosa Council’s liability under this Agreement.
              Noosa Council makes the Grant to TNC on the condition that TNC matches the Grant
              with its own monetary co-contribution of AUD$1.2 million.
              TNC will use and expend its monetary co-contribution of AUD$1.2million to contribute
              to funding the delivery of the Project and achieve the Deliverables in accordance with
              this Agreement.
              Subject to clause 8.6, Noosa Council will pay the Grant in four instalments by transfer
              to TNC’s bank account detailed below in AUD.
              ANZ Bank, Edward & Charlotte Sts, Brisbane, QLD 4000, Australia
              Account name - The Nature Conservancy
              Account no - 1078 28043
              BSB number - 014 015
              SWIFT code – ANZBAU3M
              Noosa Council will pay to TNC the Grant by way of the following instalments subject
              to TNC delivering, and demonstrating to Noosa Council achievement of, the
              Deliverables in accordance with this Agreement:
              8.6.1.   AUD$179,237, by no later than 30 days after the last Party executes the
                       Agreement and notifies the fact of execution by the Party to the other Party,
              8.6.2.   AUD$200,000 upon TNC delivering and demonstrating to Noosa Council
                       achievement of the Measurable Outcomes numbered 1, 2, 3, 4, 5, 8 and
                       13(a) in the Project Deliverables in Schedule A, to the satisfaction of Noosa
                       Council (acting reasonably);
              8.6.3.   AUD$492,962, subject to the payment being not earlier than 30th July 2021,
                       upon TNC delivering and demonstrating to Noosa Council achievement of
                       the Measurable Outcomes numbered 6; and for the relevant financial year,



Alliance and Funding Agreement                                                          Page 8 of 25