|The Residential Development Agreement between the Larrakia and the Northern Territory Government is a result of intensive negotiations between the Northern Land Council (NLC), the Larrakia and the Northern Territory Government over a period of two years.
Under a commercial lease which will be acquired from the NT Government on commercial terms, the Larrakia will undertake the urban land development of 50 hectares of the Rosebery suburb at Palmerston.
The agreement settles the first native title claim lodged in the Northern Territory in May 1994. It means that approximately 250 hectares in the Rosebery and Bellamack suburbs are available for development without native title concerns. In addition, the Larrakia have waived native title and compensation over the nearby Archer Sporting Complex including land for expansion to ensure that new sporting facilities will be available for all local residents.
The agreement enables the Larrakia to become closely involved in urban development of their traditional lands, as well as to participate in the growth of the Territory. The venture will offer opportunities for Aboriginal employment during construction, as well as provide profits which will be held in trust and re-invested in other enterprises for the benefit of all Larrakia.
The Larrakia will also nominate the names for public places, including roads in Rosebery and Bellamack.
A board of management for the project will include representatives from the Larrakia, NLC and experts in real estate development and financial management.|