Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Leasehold land ownership retained in financial arrangement

Media Release

17 January 2014

Leasehold land ownership retained in new financial arrangement

Hawke’s Bay Regional Council has negotiated a financial agreement with the Accident Compensation Corporation (ACC) for its rental income from Napier leasehold land.

The transaction sees HBRC transfer rental income associated with the leasehold land it owns in Napier to ACC for a period of 50 years.  In exchange, HBRC receives an upfront cash payment while retaining full ownership of the properties concerned.

There is no change for lessees or to lease conditions under this new arrangement. Leaseholders will continue to deal directly with HBRC for any queries relating to their leases, including freeholding and accounts.  Leaseholders have been informed of the new agreement and that there is no change to their lease arrangements.

This initiative was outlined in HBRC’s Long Term Plan 2012 - 2022 and is part of Council’s long term strategy to free up capital and realise stronger returns from its investment portfolio.  The arrangement enables HBRC investment in key infrastructure projects that deliver long term economic and environmental benefits to the region.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Flyover Over: NZTA Not Appealing Flyover Decision

The NZ Transport Agency has decided not to appeal the High Court’s Basin Bridge decision, and says the High Court’s findings provide valuable clarity to help guide the development of future infrastructure projects throughout the country. More>>

ALSO:

Developing Crown Land: Government, Auckland Iwi Reach Agreement

The government has reached agreement with Ngati Whatua and other Auckland iwi over developing 500 hectares of excess land in Auckland for private housing which had been under High Court challenge. More>>

ALSO:

Gordon Campbell: On Maurice Williamson

Maurice Williamson seems to have been granted an annual licence to embarrass the National Party, and its that time of year again. Also as per usual, Williamson’s recent exercise in sexism and homophobia has passed by with barely a murmur from his leader. More>>

ALSO:

Green Climate Plan: Shaw Launches 40% Emission Cut Target

Green Party co-leader James Shaw has announced an emissions target initiative for 40% reduction by 2030. He said agriculture has to long been used as a reason for inaction, a roadblock to action... He proposed a tax of 8 cents per kilo of milk. More>>

ALSO:


Images & Video: Four Alternative Flags For Referendum

Flag Consideration Panel chair, Professor John Burrows, said the Panel’s decision had been guided first and foremost by the results of its engagement programme across a range of communities where thousands of Kiwis shared what was special about New Zealand, as well as the Panel’s own selection criteria. More>>

ALSO:

Transport Report: LGNZ Calls For Proactive Approach To Mobilise Regions

LGNZ has today released Mobilising the Regions, its major transport study, which highlights the economic and social impact of strategic transport decisions nationally and in the regions, and the direct link between regional development, national prosperity, social well-being and cohesiveness. More>>

ALSO:

Transport: New Rules Bring Double-Deckers To Our Cities

New rules that allow buses, including double-deckers, to carry more people will ramp up the public transport offering in our cities, Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say. More>>

ALSO:

Cycling:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news