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Land banking options for the future

Land banking options for the future

The North Shore City Council is considering the pros and cons of buying up land around the city to serve the needs of its community and future generations.

A report presented to the council's strategy and finance committee yesterday (July 15) highlighted the different approaches the council could take. It suggested that 'land banking' or acquiring land could be a way of achieving some of the city's strategic objectives, in that it deals directly with key city issues rather than relying on rules and regulations.

Land banking could address a number of issues facing the city, in particular growth pressures. The approaches outlined in the report included revitalising town centres, providing public open space in and around centres, developing new housing areas, driving best practice development projects, providing employment opportunities, buying land outside the city's boundary and funding future community needs.

North Shore City's strategy and finance committee chairperson, Tony Holman, says land is an important asset.

"There is certainly a need for strategic land to ensure we plan good town centres and surrounding environment.

"We need to have a look at the various options available to us and consider how they might benefit our existing and future communities, what economic opportunities they might provide, and the relative advantages and disadvantages of purchasing land," says Councillor Holman.

"We'll consider a further report listing actual examples of land that could be acquired for the different approaches so that we've got all the facts on the table before we make any firm decisions."

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