Reduce CCAA Liabilities and Costs Sample Clauses

Reduce CCAA Liabilities and Costs. ‌ As described in Section 3.1, Financial Status, WAFWA must reduce its long-term liabilities and costs for conservation offsets so that the conservation endowments can last beyond the permit term. The actions described in this section are intended to achieve this goal. Action F-4: Terminate early excess iterative term contracts from CCAA Action: WAFWA should reassess all iterative term contracts for the CCAA and determine where excess contracts are not needed for current and future offset needs. These excess contracts should be (1) terminated now, or (2) terminated early, or (3) allowed to expire (i.e., not be renewed), or (4) assigned to the Range-wide Plan in ways that best improve the long-term financial sustainability of the CCAA program while best preserving landowner relationships. Contract terminations should occur first in lower CHAT categories where conservation is of lower priority. Rationale: As described in Section 3.1, Financial Status, the CCAA’s conservation assets exceed the CCAA’s conservation needs based on impact units generated to date and expected in the near future. The action that will have the largest and potentially most immediate financial benefit is to cut short as many of the excess iterative term contracts as possible.45 WAFWA has determined that it has the legal ability and authority to terminate iterative term contracts at any time. However, early termination may have adverse consequences for long-term relationships with key landowners. There may be ways for WAFWA to negotiate new contract terms with each landowner that substantially reduce CCAA liabilities and costs and maintain good relations with these landowners. Action F-5: Restore administrative endowment by rebalancing assets and liabilities of CCAA Action: WAFWA should coordinate via the CCAA implementation team working with industry participants to voluntarily forgive of a portion of their credit balance or a contribution of additional funds to the program (see Section 2.5.1, Workgroup 1: Concept Proposal to Improve the CCAA’s Financial Viability). These forgiven balances or additional revenues could be used to restore the administrative endowment to a level needed to pay for long-term administrative costs. The restored administrative endowment should be designed so that it grows over time with the expected growth in administrative costs as the program itself grows.
Sample 1
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