Media release

17 June 2004

Property Council praises Waitakere's economic efforts

Waitakere City Council's focus on nurturing a strong economy has been endorsed by the Property Council of New Zealand.

The Property Council supports Waitakere's comprehensive draft Economic Development Strategy which seeks to support the growth of existing and new businesses.

In its submission to the Draft Annual Plan 2004/2005, the Property Council singled out for praise objectives in the Economic Development Strategy, in particular, Waitakere City Council's town centre revitalisation strategy and other initiatives and the recognition that regulatory processes can unnecessarily impede business.

The Property Council of New Zealand is a not for profit organisation representing all forms of commercial property and property investment.

The report noted that Waitakere's performance measures are "generally robust" and that the Property Council is "pleased" that Waitakere's rates are to be less than forecast in the 2004/2005 LTCCP, "because of efficiencies, timing of capital expenditure projects and stringent costs control", the Council has increased rates by 3.97%, instead of the projected 4.75%.

The Draft Annual Plan submission hearings end tomorrow (Friday 18 June) and deliberations will continue until 29 June.

The 2004/2005 Annual Plan will be adopted by 30 June.

ENDS

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