NSW TREASURER Mike Baird will announce in Dubbo today a $20 million fund to help boost the economy of Dubbo and three local government neighbours.
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The outlay follows the state government's decision not to take the Cobbora Coal Project to production because of an associated $1.5 billion impost on taxpayers.
It plans to sell or lease the project that promised economic and jobs growth in the Dubbo, Mid-Western Regional, Warrumbungle and Wellington local government areas.
The Cobbora Transition Fund, to be drawn from Restart NSW, recognises that communities have been affected by the delay in the launch of the mine.
Chairman of the Cobbora Transition Committee, Dubbo MP Troy Grant, will join the treasurer in detailing criteria for the funding of projects from the $20 million fund.
"The degree to which the infrastructure projects will improve services or outcomes for the most residents and/or businesses in the whole of the region will be key," the MP said.
Mr Grant said he and fellow committee members, Barwon MP Kevin Humphries and Orange MP Andrew Gee, were ready to brief their constituents on the "processes established to achieve real outcomes".
"This is a real opportunity for our region to take advantage of the situation in the delay of the Cobbora mine development," Mr Grant said.
"The government remains committed to completing the development application approval process for the mine site ready for lease or sale."
Mr Grant said he remained optimistic the mine would be developed in the future.
"I am aware of some opportunities and interest on the horizon and the NSW Minerals Council chairman Stephen Gallilee shares my optimism," he said.
"Until then however, the NSW Liberal Nationals government recognises the need to invest in the area that pinned its hopes on a project that unfortunately was unstainable under the last government's 'dud deal of the century'.
"This is the exact opposite, a 'cracking opportunity in the interim'."
The government is keen to see some of the fund improve regional transport links.
Its 2014-2015 NSW budget will reveal the successful project applications.
The $20 million fund is in addition to about $10 million offered to councils by the Cobbora Holding Company (CHC) on behalf of the government as part of voluntary planning agreements.
Last month the Warrumbungle Shire Council highlighted the impact on Dunedoo of the CHC buying up 32,500 hectares of agricultural land that had "generated $24 million of annual revenue, supporting 400 direct and indirect jobs in the region".
The council told of 90 people leaving the district and the subsequent effects on schools, businesses and community organisations.
This morning Mr Baird will also announce a tender process for properties on the mine site to "return it to productive use and improve biodiversity where possible".
