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 Anne Tolley’s
Callous Folly

Years ago, I remember someone in the Heath Ministry telling me off the record that regulatory oversight in this country largely consisted in ‘waiting for something to turn green or fall off somebody’ before the authorities would swing into action...

Last week’s conflict between Social Development Minister Anne Tolley and District Court judge Carolyn Henwood illustrated quite a few of the flaws in the system. More>>

 

Members’ Bills: Greens' Domestic Violence And Loans Bills Pulled From Ballot

Jan Logie’s Domestic Violence-Victims' Protection Bill introduces workplace protections for victims of domestic violence, including allowing victims to request paid domestic violence leave for up to 10 days... Gareth Hughes’ Bill allows Kiwis with student loans to defer their student loan repayments into a first home savings scheme. More>>

ALSO:

IPCA: Police Did Not 'Deliberately' Use Pepper Spray On 10-Year-Old

"When spraying the man, the officer did not properly consider the necessity of using pepper spray in a confined space, the likelihood that it would affect the other innocent passengers or the fact that he was using a more powerful spray." More>>

ALSO:

Donor Bill Passes: Full Income Compensation For Live Organ Donors

Unanimous cross-party support for the Compensation for Live Organ Donors Bill represents a critical step in reducing the burgeoning waiting list for kidney donations, according to Kidney Health New Zealand chief executive Max Reid. More>>

ALSO:

Earthquake Response: Emergency Legislation Prepared

Three new Bills have been drafted in the wake of the magnitude 7.8 earthquake on November 14 to ensure the government can enable affected communities to respond quickly and efficiently. More>>

ALSO:

Housing MPs: New Building(s) For Parliament

A new building will be erected on Parliament grounds to house Members of Parliament and their staff who currently work in leased accommodation in Bowen House. The plan has cross-Party support, apart from NZ First, said Parliament’s Speaker, Rt Hon David Carter. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news