Positive Returns to Landowners
We are proud to report positive improvements to Landowners, here’s some of the highlights:
- Lease rental of $14 per hectare;
- Stumpage payment at 12% of net revenue (revenue less direct cost of logging, cartage and roading);
- 5.5% Landowner Community Development Fund (LCDF). This fund is paid to our Landowners. The key purpose of this fund is to make an impact on the livelihood of our landowners. These include education, water, sanitation, cyclone rehab, etc.
- Lease premium of $20 per hectares – this is on lease renewals when offer letters are received from iTLTB;
- Lease Security Bonus Payments – this is announced based on the company’s performance after the annual accounts have been audited. LSBP methodology is as follows:
- 30% of the LSBP amount is distributed equally to the mataqali members through iTLTB’s equal lease distribution mechanism. There is no deduction of any fee by iTLTB. Fiji Pine group pays iTLTB’s service fee separately.
- 70% of the LSBP amount is directed towards mataqali based projects. We provide project options for our landowners to choose from. These are projects for community or community-based business developments – like housing, sanitation, bore hole, water pumps, boat, boat engines, generators, etc. We would like to see real benefits out of the LSBP event to pass to the mataqali members.
- Mataqali can propose other capital projects based on need or requirements that will benefit their community.
- All capital projects must be undertaken for the overall good of the Mataqali or landowning units.
- All requests for capital project proposals must be made through general consensus of Mataqali or Tokatoka members and signed by majority members.