| Acquiring, managing and divesting land
The Land Account was established to reconnect Indigenous peoples with their land, and to help build a sustainable Indigenous land base. Land acquisition and land management for a range of Indigenous benefits – social, cultural, environmental and economic – are the legislated core functions of the ILC.
During 2013–14, the ILC acquired four properties at a total value of $5.6 million, including one property acquired through a grant of ILC moneys. The Board approved the acquisition of a further two properties that were awaiting settlement at the end of the reporting period. The number of properties purchased by the ILC since its establishment on 1 June 1995 has risen to 250 at an area approaching 6 million hectares.
During the year, the ILC granted four properties to Indigenous organisations that had demonstrated the capacity to own and manage land to achieve sustainable benefits for Indigenous people. A further eight grants had been approved by the ILC Board and were awaiting settlement at 30 June 2014. Ten more grants are scheduled for next financial year.
In 2013–14, $56.3 million was spent on land management projects: Fifty-five new land management projects were approved. At 30 June 2014, the ILC was implementing a total of 134 land management projects, including a number approved in previous financial years.
In recent years, the ILC Board has been allocating a greater proportion of its resources to land management, and less to land acquisition, so that land held by Indigenous Australians is well managed and productive.
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