Selling off Whakatane waterfront

The Whakatane District Council is council is considering selling some leasehold land . Photo: Supplied.

The Whakatane District Council is seeking community feedback on a proposal to sell off some leasehold land in the town centre.

The Council owns 131 perpetually renewable leasehold properties within the town centre, most of which are harbour endowment land derived from harbour/riverbed reclamation.

A moratorium has been in place on the sale of leasehold land since 2002 and the proposed policy reaffirms a ‘general prohibition' on the freeholding of commercial and industrial leases, unless there is a compelling case that such a sale would deliver economic, environmental, social and cultural benefits.

Under the draft policy, any lessee wishing to purchase the lessor's interest in their property would need to demonstrate that freeholding the property would significantly advance:

  • The principles and themes of the Whakatane Town Vision Plan;
  • The economic development of the town centre;
  • The environmental, social and cultural benefits provided by the town centre; and
  • Any other criteria the Council deems relevant.

Any application to freehold land will be considered by the full Council, on a case-by-case basis, and if a compelling case is provided, any sale will be subject to conditions and/or covenants which will endeavour to ensure that the required outcomes and objectives were achieved. Sale proceeds will be added to the Harbour Fund, which currently holds investment funds totalling more than $16 million.

The Council's Policy Committee received a report on the proposed policy at its meeting last week. Councillors asked that a consultation process be initiated to allow the community to express its views, before any change is made to the existing moratorium on the sale of Council-owned land in the town centre.

A month-long social media feedback process was launched on July 14, providing an opportunity for people to record their thoughts, or participate in an online poll.

Written feedback can also be posted or emailed to the Council (Private Bag 1002, Whakatane 3158; or email: info@whakatane.govt.nz marked for the attention of the Chief Executive.

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2 comments

What did I miss??????

Posted on 18-07-2017 22:45 | By The Caveman

Sell the land at today's value - a ONE OFF income gain ..... spent tomorrow - gone.........Retain the land and LEASE it - ongoing inflation adjusted income for ALL time !!!!I will keep my land and LEASE it for the ongoing revenue.


Museum

Posted on 19-07-2017 12:49 | By overit

I suppose its to pay for the new Museum.


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