TCC forks out $14m for Bella Vista properties

Bella Vista homeowners were evacuted from their homes earlier this year due to a cyclone bearing down on Tauranga.

Tauranga City Council has reached a decision on the future of Bella Vista properties – and is releasing details of the cost of the settlements.

At a meeting on Wednesday, Council approved a plan to salvage, repair, remove and as appropriate demolish the Bella Vista properties.


Mayor Greg Brownless says the decision came down to either selling the buildings and land “as is” or salvaging what was possible and remediating the land before sale.

Council bought all 21 properties from affected homeowners earlier this year after the Bella Vista development failed and problems were found with the houses and sections.

Although the individual purchase prices remain confidential, the Council has approval from the parties to release the total sums involved.

The Council paid a total of $14,063,353.80 to settle with the homeowners and received an insurance payout of $10,550,000 (both figures are GST inclusive, if any), leaving a difference of $3,513,353.80.

Offsetting this, Council retains ownership of the 21 homes. Income from remediating where possible and selling these properties will go towards offsetting the shortfall.

Greg says this week’s decision provides a pathway for a positive outcome.

“We want to resolve this issue properly, and by taking control of the process we can provide certainty to the people of Tauranga.

“It’s all about doing the right thing for ratepayers.”

 


4 Comments

Well done..........and now?

Posted on 22-12-2018 13:31 | By FRANKS

And now when do we get advised about the enquiries to establish why the debacle happened ?????

No Trust

Posted on 21-12-2018 18:29 | By Chookymac

Whats the bet they have been dealing with another company to purchase and restore the buildings

Bella Vista Properties Settlement

Posted on 21-12-2018 15:47 | By Pamaxx

Its great to see a satisfactory resolution to this messy debacle. Council should maximise their cost recovery and appoint a professional sales person/company to dispose of the houses & chattels on a commission basis. Max Lewis, Mt Maunganui.

Bargain

Posted on 21-12-2018 15:30 | By Slim Shady

How much has two security guards on duty 24/7 cost me?

Leave a Comment

You must be logged in to make a comment. Login Now
Opinion Poll

Did the ’unruly’ traveller family get a fair go in NZ?

Yes
No

VOTE
VIEW RESULTS