Gadalargan
Economic Development Fund
Background
In November 2013, the Western Australian Government completed the acquisition of land for the proposed onshore LNG precinct adjacent to James Price Point, triggering the creation of a $10 million economic development fund and a $20 million fund for Aboriginal housing.
Determination coupled with the registration of the PBC as the Native Title Party for the Browse Agreement in 2020, allowed these benefits to be “unlocked”. However, no action was taken to seek State approval of the rules of distribution until Gadalargan did so in August 2023. These Rules have now been approved and the funds can be accessed.
The purpose of the Economic Development fund as detailed in the Browse Agreement is:
“The initial purpose of the Economic Development Fund is to assist the Native Title Party to benefit from economic opportunities, including those arising out of the establishment and ongoing operation of the LNG Precinct and to develop and increase the capacity of the members of the Native Title Claim Group to generate wealth and self-sufficiency and address disadvantage through:
Sustainable business and employment opportunities
Creating and expanding businesses in which members of the Native Title Claim Group have equity
Investment, and
Building asset ownership”
Proccess For Applications
The process of getting monies to support business start-up, development and growth is a 4- step process:
STEP 1
Are You Eligible to Apply
Make sure you are eligible to apply for monies under the Economic Development Fund Rules
STEP 2
Early Proposal Application
Tell us a bit about you and your business idea so we can review its viability (and provide support if needed)
STEP 3
Member Application
This asks for more detail about your business, detailed budgets and plans
STEP 4
Evaluation Criteria
All applications are reviewed against the same criteria by the assessing panel and recommendations are made against the criteria
Expert advice
If you have any questions please contact our team, we will get back to you shortly
More Details
STEP 1 – Eligibility
To be eligible to apply for support under the rules of the Economic Development Fund, you must complete the Eligibility Form.
STEP 2 – Early Proposal Application
There are 2 types of Early Proposal Applications.
Early Proposal for Consideration, and
Early Proposal Requesting Support.
An Early Proposal for Consideration is an idea, suggestion or concept for a community program or initiative submitted to the EDF for consideration. There are a number of possible results from this type of application. The application is attached as
Early Proposal adopted for review
Early Proposal amended and adopted for review
Early Proposal deferred as there isn’t enough information
Early Proposal declined as the idea does not meet the criteria of the Fund
An Early Proposal Requesting Support is an idea or concept that the member wishes to develop into a Member Application. Unlike a proposal for consideration, a proposal requesting support is not a community program but a venture the Member wishes to undertake personally or in conjunction with other Members. The application is attached as Attachment 2.
These ideas will be reviewed on the basis of:
Whether the idea proposed by the Member is within the scope and objects of the EDF,
Whether it is realistic that the Member can undertake the proposed venture,
Whether the Early Proposal has the potential to meet the Evaluation Criteria, and
Whether the EDF has the financial capacity to support the Early Proposal.
On review, the concept will either be approved for support or the request is denied. The Applicant will be told the reasons why support was denied.
STEP 3 – Member Application
An application form for a loan under the EDF will be made available to members on request. There are a number of ways that you are able to be provided financial support for your new business or growing your current business.
You may choose to complete a loan application with a loan agreement between your business and Gadalargan (on behalf of GAC) or you may choose that Gadalargan holds an equity in your business with a fixed price for you to “buy back”.
Please call, email or make an appointment to discuss which is the best option to meet your needs.
An application can be for:
business start-up,
business expansion or growth,
establishing and participating in joint ventures,
investment and asset acquisition, and
other activities as determined by the Administrative Body (Gadalargan) consistent with the purpose of the Economic Development Fund.
Your application will first be reviewed for compliance with the terms and conditions of the Fund. At this stage, there are a number of possible results.
Approve the application – Gadalargan (Administrative Body) will then assess the Application under the Evaluation Criteria.
Amend the application – Gadalargan may negotiate with the Applicant to amend the Proposal to better fit the scope, purpose and objects of the EDF or to increase or decrease the scale and cost of a Proposal such that it fits within the capabilities of the EDF.
Defer the application – Gadalargan may confirm to the Member Applicant that the Proposal is viewed favourably but not currently viable. Reasons for the deferral will be communicated to the Member Applicant and a timeframe given for reconsideration.
Decline the application – Gadalargan may decline a Member Application that does not meet the scope, purpose and objects of the EDF or is not viable.
STEP 4 – Evaluation Criteria
The Evaluation Criteria will be provided to Applicants when they request an application form. The Evaluation Criteria is what will be used by Gadalargan in reviewing your application. You are not required to complete but we want you to know the basis on which your application will be assessed. The evaluation process is designed to give you the best possible chance of making a successful application.
The criteria are designed to assess the outcomes generated by a Proposal in terms of –
Economic Development Criteria
Return on investment
Preservation of capital
Risk of financial, reputational or other loss
Whether the Proposal generates long term economic benefits for the Native Title Claim Group or region
Social Evaluation Criteria
Employment of member of the Native Title Claim Group
Training or other activities to assist Native Title Claim Group members to become job ready or otherwise enhance their professional skills
Engagement of members of the Native Title Claim Group in the activities planned outside of employment and training
Contribution to harm reduction social goals such as reduced crime, poverty and isolation
Contribution to community improvement social goals such as connectedness, participation and engagement and education
Environmental & Cultural Evaluation Criteria
Protection of, or impact upon, the native environment including historical and cultural sites
Promotion of culture and traditional practices
Supporting activities on country
Promoting connection to country
Promotion of the culture of the Native Title Claim Group to the wider community