FCRM Corporate Vision - Falls Creek · 2017-02-14 · FCRM Corporate Vision . To Deliver . the Most...

FCRM Corporate Vision

To Deliver the Most Memorable Leisure,

Sporting and Adventure Experiences in Australia’s

Unique Alpine Landscape

Maximizing the Role of FCRM

FCRM Focus All Seasons New Markets New Reach Drive New/Increased Market Visitation

Existing Ski Market & Customer Base

Village Support & Enhanced Customer

Experience

Alpine Resorts Strategy • Current Policy – 2020 Alpine Strategy

• Review Process Undertaken in 2012

• Alpine Resorts Strategy Review

• Current Status

• Key Themes

• What Does this Mean for Falls Creek….

Alpine Resorts Strategy

•Opportunity to Embrace our Unique Points of Difference

• Accentuate the Resort’s Natural Attributes:

• Most Diverse Snow Sports/Snow Activity Base

• Only Resort with a Substantial Body of Water

• Unique Altitude Training

• Massive Potential to Become Australia’s Cycling “Mecca”

What Does this Mean for Falls Creek

FCRM Development Plans Continued Winter Focus on Alpine & Nordic Sports

FCRM Development Plans Four Stage $2 million Mountain Bike Trails

FCRM Development Plans Altitude Training

FCRM Development Plans

FCRM Development Plans Lake and Foreshore Development

FCRM Development Plans Cycling Master Plan

FCRM Development Plans Nature Based Tourism – Alpine Crossing

Planning & Leasing Impacts

• Falls Creek is recognised as having outstanding all seasons potential

• The long term impact of climate change is considered undeniable

• Opportunity exists for stakeholders to grow with the Resort

• Change will be “Generational” • Take into account On Going Trend Analysis

Master Planning

• In light of the Alpine Strategy Review, FCRM Board is undertaking the development of a comprehensive review of its Master Plan

• This will involve Stakeholder Consultation over the Next 6-12 Months

• FCRM actively encourages participation.

Final Word

• We are all part of an Exceptional Resort with unlimited all seasons potential.

• FCRM is committed to fostering cooperative partnership with its Stakeholders.

• This partnership can only operate if both parties “buy-in” to the vision.

Property ◦ Bed audit ◦ Building inspections ◦ Licences ◦ Planning

applications ◦ Property-related

policy work

Leasing ◦ New lease applications ◦ Consent applications Transfer of head

lease Mortgage of head

lease Sublease Transfer of sublease Mortgage of

sublease

8 key points Existing leases to New lessees Improvements Length of lease term Standards of occupancy Rental and valuations Strata leasing regime Registration of leases Contemporary conditions and consistent

documentation

Once Lease has registered, a copy of registered Lease is provided to FCRM and the tenant for their records.

Tenant enquiry

Tenant will be directed to www.fallscreek.com.au/Property for forms and preliminary information. Tenant is invited to discuss process and proposal meet with FCRM.

Documentation to be collected to assist preparation of new lease application: •Application Form •Company ASIC extract •Company Constitution •A list of all parties with a vested interest in the property •Building Code of Australia report (BCA) •Essential safety measures report (ESM) •Bushfire risk assessment report (CFA) •Design and siting guidelines report (DSG) •Vegetation management plan (VMP) •Business plan •Development plans •Building Valuation •Public Liability Insurance

FCRM assess application by reviewing information provided . If information is satisfactory, FCRM prepares recommendation paper to be presented to the Planning & Land Management Committee (PLMC).

FCRM present application to PLMC for review and consideration, and to FCARMB for approval.

FCRM organise lease: Request Ministerial Approval in Principle, site valuation, lease plan. Advertise application.

Draft lease document generated by FCARMB’s solicitors and provided to tenant for review.

Lease document finalised between the parties. Tenant provided with new Lease and Deed of Surrender of existing Lease for execution.

Lease (signed by tenant) forwarded to Minister for Approval.

Lease (signed by tenant and Minister) and Deed of Surrender executed by FCARMB.

Fully-executed Lease and Deed of Surrender issued to FCARMB’s solicitors.

FCARMB’s solicitors issue fully-executed Lease to Land Victoria for registration.

http://www.fallscreek.com.au/Property�

http://www.fallscreek.com.au/Property�

What do you see as your role in Falls Creek?

What contribution do you make to the Village?

How can it be improved?

How would you envisage your relationship developing over the term of the lease?

Questions to ask yourselves

1. Collect information 2. Prepare application 3. FCRM assess application 4. FCRM present application 5. FCRM organise lease

Information required ◦ Application form ◦ Information about tenant ◦ Reports (BCA, ESM, CFA, DSG, VMP) ◦ Business plan ◦ Development plans ◦ Building valuation ◦ Evidence of insurance ◦ Scope of Works & Building cost information

Reasons we require this information ◦ Assists tenant in planning future works ◦ Determines lease type, term and conditions

Information Required Business plan

Positioning within the Resort Trend Analysis Customer/ Member analysis Marketing Use of technology Desired Outcomes Marketing Strategy

Your resources ◦ Alpine Leasing Policy ◦ Resort Management ◦ Your consultants ◦ Other stakeholders

Features of an outstanding application ◦ Projections of future income and expenditure ◦ Detailed plans – showing before and after ◦ Bednight trend analysis ◦ Understanding of market segmentation

Tenant’s compliance with existing lease ◦ Historical position of tenant ◦ Financial history ◦ Accommodation condition ◦ Environmental considerations

Public and economic benefit ◦ Retail, social and sports activity ◦ Annual activity/accommodation ◦ Employment levels ◦ Financial outlay ◦ Business plans ◦ Participation in Resort initiatives and events

Strategically Identified Site Potential (SISP) ◦ Based on Alpine Resorts Planning Scheme

A1 area of Village: 40% site coverage, 11 metre height maximum (15 metre height approved if only 33% of roof area)

A2 area of Village: 60% site coverage, 15 metre height (18 metre approved if only 33% of roof area)

A3 area of Village: No specified site coverage, 15 metre height (18 metre approved if only 33% of roof area)

The SISP calculation is a guide only for

determining lease term

Level of development

Conditions for continuation of existing developments and current use

Conditions for new developments and/or use

Lease term

Special cases considered on a case-by-case basis for exceptional levels of development and/or public benefit

• Value of current development on site plus capital outlay for refurbishment / redevelopment in excess of $8million

• Development to optimum level

• Detailed business case and financial evaluation required

• Exceptional circumstances must exist

• Public notification process • Consideration of past

performance of tenant / standards of occupancy

• Capital outlay in excess of $8million



• Exceptional circumstances must exist

• Land allocation subject to public competition process

More than 51 years

Guide Only




Lease term

Optimum level of development: 100% of SISP

• Currently developed to an optimum level and / or

• Committed through formal agreement to refurbishment / redevelopment of the site to an optimum level within a specified timeframe and/or to additional benefit through special conditions / requirements of the Board

• Detailed business plan • Comprises extensive multi-

seasonal or permanent residential use



• Capital outlay in excess of $8million


• Land allocation subject to public competition process


• Comprises extensive multi-seasonal or permanent residential use

Up to 51 years

Guide Only




Lease term

High level of development: 75% to 99% of SISP

• Currently developed to an high level and / or

• Committed through formal agreement to refurbishment / redevelopment of the site to an optimum level within a specified timeframe and/or to additional benefit through special conditions / requirements of the Board

• Detailed business plan • Public notification process • Consideration of past


• Development to high level • Detailed business plan

required • Land allocation subject to a

public competition process

Up to 45 years

Guide Only




Lease term

Moderate level of development: 40% to 74% of SISP

• Currently developed to a moderate level and / or

• Committed through formal agreement to refurbishment / redevelopment of the site to a significant level within a specified timeframe and/or to special conditions / requirements of the Board



• Development to moderate level

• Detailed business plan required

• Land allocation subject to a public competition process

Up to 35 years

Guide Only




Lease term

Low level of development: 25% to 39% of SISP

• Currently developed to a low level and / or

• Committed through formal agreement to refurbishment / redevelopment of the site to a significant level within a specified timeframe and/or to special conditions / requirements of the Board



• Development to low level • Detailed business plan

required • Land allocation subject to a

public competition process

Up to 21 years

Guide Only




Lease term

Minimum level of development: Less than 25% of SISP

• Currently developed to a minimum level and / or

• Detailed business plan required



N/A Up to 10 years

Negotiated level of development

• Permanent ongoing residential occupation

• Consideration of past performance of tenant / standards of occupancy

• Permanent ongoing residential occupation

Up to 40 years

Guide Only

The PLMC may reduce the requested lease term based on the guidelines set

out in the Alpine Leasing Policy

Planning and Land Management Committee (PLMC) ◦ Accept. ◦ Returned to tenant with a request for further

information Board

Which Lease is for you?

Currently we offer 4 types of leases:- Tenancy at Will: When your existing lease expires, the holding over provisions prevail, until a new lease is entered into

Standard Alpine Lease: No development

Development Lease: Development works < $400K A schedule will be added to the lease called Schedule 3 and outlines the agreed scope of works and

timeframes. The threshold of development works for a Development Lease $400K and less Agreement to Lease: Major Development >$400K The ATL will outline the scope of works and timeframes and once these have been satisfied the lease will

commence. The Standard Alpine Lease is attached to the ATL and forms part of the complete agreement.

Note that the Standard Alpine Lease has been approved by the Minister and w ill only be negotiated in exceptional

circumstances.

When w ill I get my lease? When all works are completed. When is completion? When you have satisfied all requirements of the planning and building permits, including

landscaping. How can I be sure the lease w ill be granted? The Agreement to Lease is a binding contract. The proposed Lease, signed by the Minister, is

annexed to the agreement. A certificate of completion certifying that all works are satisfactorily completed will trigger the commencement of the new Lease.

Will I pay rent and outgoings during the period of the Agreement to Lease? Yes. You will pay site rent and service charges in the usual manner. Who is responsible for the site during the period of the Agreement to Lease? The Tenant/Developer/You are fully responsible for the site and will be required to maintain

public liability insurance policy in the usual manner.

Can I sell apartments or my interest in the Lease during the Agreement to Lease period? Yes, you could contract to sell interests in the same manner as “off the plan” sales. However, you will not be able

to settle a sale until completion of the works. How w ill I be able to arrange finance for the development if I don’t have a lease yet? You should contact your lender prior to committing to the development. The Agreement to Lease is a binding

contractual document that can be used as security for finance. What happens if the works are not completed by the due date? You may lose the entitlement to the grant of the Lease and the Board may take enforcement steps. Who pays the costs associated w ith the Agreement to Lease? In accordance with the Alpine Leasing Policy, the tenant pays costs associated with preparation of documentation,

including costs of surveyed Site Plans and Valuation Reports. Who decides what works are required? You will submit development proposals to the Board and the Board will consult with you through the application

phase to reach agreement on the nature and scope of works.

Site valuation

Site plan

Advertising

Request Ministerial Approval In Principle

Draft lease and or Agreement to Lease

Sign lease and or Agreement to Lease

Stamp and register lease

Agreement to Lease and Schedule 3 obligations ◦ Deadlines ◦ Consequences of not meeting deadlines ◦ Planning permit application ◦ Financing

Building Standards report ◦ Frequency of inspection for report ◦ Reason for report

Top tips – new lease application

Deadlines – new lease application

Life after new lease application

FCRM Corporate Vision - Falls Creek · 2017-02-14 · FCRM Corporate Vision . To Deliver . the Most...

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