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Denarau
Island falls outside the Nadi Town Council boundaries. In place of the town
council, Denarau Island has established through the integrated resort structure,
a body corporate entity, Denarau Corporation. The company acts as a quasi-town
council and regulates development, as well as carrying out the maintenance
functions for the common areas of the resort. Denarau Corporation Limited
is specifically responsible for;
1.
Maintaining the common areas, specifically roads, reserves, and other
public areas.
2. Providing for the fundamental protection of the island, including all
storm damage mitigation measures, reinstating erosion and undertaking
appropriate environmental measures.
3. Controlling all future developments in terms of planning consents and
compliance with certain restrictions and criteria applied under the guidance
of a committee of qualified professionals.
4. Governing equitable rights of access to various facilities on Denarau
Island.
5. Provision of security services on site.
6. Enforcement of bylaws, ensuring all residents the quality of lifestyle
that Denarau represents.
7. Maximising the value of property and maintaining high standards of
services.
Rates
Denarau Corporation levies rates on a quarterly basis. For 2002, based
on the approved budgets by Denarau Corporation, individual residents will
be levied approximately F$1500 - F$2000 for the year. In addition, residents
making contributions to the inner marina sinking fund (homesites with
water frontage) will be required to pay an additional F$450.
The
various types of charges that will be levied to owners on an annual basis
will be the following:
1. Contribution to Common Costs for
the Entire Resort.
Denarau Corporation looks after all the common areas of the resort such
as the primary thoroughfares, verges and waterways. Each year the Board
of Denarau Corporation approves a budget for the common costs which are
levied to the individual owners.
2. Contribution to Capital Expenditure for the Entire Resort.
Each year the Board of Denarau Corporation will also approve a capital
budget. This relates to capital works that are necessary to be carried
out on assets in respect of the overall resort. Some examples of this
include construction of new footpaths, roundabouts, major road repairs
etc.
3.
Contribution to the Precinct or Neighbourhood Specific Costs.
This contribution is based on specific costs for individual precincts
or neighbourhoods. Examples of these costs include landscaping costs within
individual precincts or neighbourhoods.
4. Contribution to Denarau Corporation Sinking Fund.
The Articles of Denarau Corporation also provide for the establishment
of a Sinking Fund. The Board of Denarau Corporation has decided to establish
a sinking fund to be used for emergency purposes to the level of $30,000.
These expenditures are of an urgent nature that need to be carried out
immediately such that there is insufficient time to levy fees in the normal
manner. Examples of these would be urgent work for damages caused by cyclones
etc.
As
this has now been established, there will be no need for further contributions
unless the fund has been spent or requires a top-up.
5. Contributions to Inner Marina Sinking Fund (Waterfront blocks only).
For owners of waterfront blocks at Mariners Reach or The Cove, as part
of the mooring licence, there is a yearly charge to assist in the maintenance
of the inner marina.
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