Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
$1.5 million federal assistance for Endeavour project



Download PDFDownload PDF

John D aw kins, M inister for Em ploym ent, E ducation and T raining, R alph W illis, M inister for Finance, D avid Sim m ons, M inister for Arts, T ourism and Territories.

59/91

$1.5 MILLION FEDERAL ASSISTANCE FOR ENDEAVOUR PROJECT

The Federal Governm ent today announced assistance w orth $1.5 m illion tow ards the com pletion of the E ndeavour Replica Project by the H M Bark Endeavour Foundation.

The M inister for Employment, Education and Training, John Dawkins, the M inister for Finance, Ralph Willis, and the M inister for the Arts, Tourism and Territories, David Simmons, p u t the package together follow ing negotiations w ith the foundation.

U pon completion, this replica of C aptain Cook's ship, Endeavour, will serve as a major attraction at the A ustralian N ational M aritim e M useum at Darling Harbour, Sydney.

The M inisters said the Governm ent w ill m ake the funds available in three equal instalm ents in this and the next tw o financial years.

The G overnm ent proposes that the funds will initially be provided in the form of a loan, w nich will be converted to a grant u p o n the successful com pletion of the project.

It w ill m ake the assistance available on the basis that the H M Bark Endeavour Foundation obtains clear, unencum bered title to the replica from the Endeavour Replica Pty Ltd., w hich has been undertaking the project to date.

The Foundation is to be established u nder a tru st structure and as such, w ill be a non-profit body w ith purely charitable objects and non association w ith Endeavour Replica Pty Ltd.

The Foundation estim ates that $6 million w ill be required to complete the replica, bringing its total cost to som e $15 million. The Foundation proposes to raise rem aining monies required to com plete the project from the general com m unity and from the private sector.

COMMONWEALTH P A R L IA M E N T ARY LIB R A R Y M iC A M

- 2-

Details of the assistance package are currently being discussed betw een the Com m onw ealth and representative of the Foundation. It is expected that an agreem ent will be finalised shortly.

The M inisters said that they were extremely pleased w ith the progress of negotiations w ith the Foundation, and that the com pleted Endeavour replica will become a national symbol of the courage, determ ination and skill of A ustralia's European discoverer.