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

Gordon Campbell:
On Andrew Little’s Debut, Mockingjay, And Drunk Texting

John Key’s credibility has taken a hammering this week – at least among the 50% of the electorate who have always had doubts about him on that score.

The other substantial story of the week has been about Andrew Little’s debut as Labour leader, which has received top marks, especially among the 25% of the electorate still voting Labour. According to some reports, the Labour caucus has been ‘in seventh heaven’ about Little’s success this week in taking it to the government in the House. More>>

ALSO:

 
 

Parliament Today:

Gordon Campbell: On Government Arrogance

Right now, National is ramming anti-terrorism measures through Parliament. This legislation will grant the SIS the power to carry out 48 hour bouts of surveillance on anyone without a warrant, and will bestow on government the power to unilaterally revoke anyone’s passports and thus deny them the freedom to travel. More>>

ALSO:

Glenn Inquiry: Report Offers Solutions To Family Violence

The People’s Blueprint unveiled today by Sir Owen Glenn’s independent inquiry into child abuse and domestic violence outlines a new, more cohesive and effective system for reducing New Zealand’s alarmingly high family violence rates. More>>

ALSO:

Environment Commissioner: Changing Climate And Rising Seas - Understanding The Science

A rising sea will be with us for a long time to come – one way or another we will have to adapt. But how high and how fast the water rises will be influenced by the speed at which the world – including New Zealand – reduces greenhouse gas emissions over the coming decades. More>>

ALSO:

Key Texts With Whale Oil Released: PM Can’t Be Trusted Over Dirty Politics Defence - Greens

John Key’s answers to questions about dirty politics can’t be trusted, after he was forced to admit that he had misled journalists and Parliament about contact with attack blogger Cameron Slater, said the Green Party today.. More>>

ALSO:

Temporary Release Crackdown Continues: Corrections Review Of Phillip Smith Case

“The review by Corrections’ Chief Custodial Officer reveals that the plan for Smith’s series of temporary releases was overly ambitious and misinformed. He’s a highly manipulative and deceptive person who although technically eligible, should not have been considered for temporary release." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news