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Board announced for multi-million dollar investment

(14 June 2019)
Media release

Board announced for multi-million dollar investment in Waitara

Six representatives have been chosen for a Board to oversee the new Waitara Perpetual Community Fund, created as part of the Waitara Lands Act, which came into force in March. The Act allows leaseholders to buy their leased land on 770 Waitara properties valued at about $90 million and there have been approximately 300 expressions of interest in freeholding.
The proceeds from the land sales will be divided into three funds for the benefit of the town:

• The Waitara Perpetual Community Fund to support community projects.
• A ring-fenced Hapū Land Fund. Te Kōwhatu Tū Moana* (TKTM) will decide how this fund will be distributed.
• A fund to support Waitara River and environment projects managed by Taranaki Regional Council and iwi and hapū with interests in the river.

The Board members of the Waitara Perpetual Community Fund are:
• Pat Bodger (TKTM)
• Donna Eriwata (TKTM)
• Mawhaturia White (TKTM)
• Graham Armstrong (NPDC)
• Pauline Lockett (NPDC)
• Darrel Nicholas (NPDC).

NPDC and TKTM each selected three board members and an alternate. The positions were advertised and potential Board members interviewed.
“We’ve been able to form a highly competent Board with a wide range of skills and a passion for the Waitara Community prepared to lay the foundations for the next chapter in the town’s history. It’s an exciting time as after 30 years of mahi and negotiations on the Waitara Lands Act, it is finally beginning to come alive. It’s a great example of NPDC and iwi/hapū working together for the benefit of Waitara,” said New Plymouth District Mayor Neil Holdom.
“Te Kōwhatu Tū Moana is pleased with the quality of the inaugural Board and congratulate all members. We look forward to the Board working through its establishment phase and determining those matters of importance to support the Waitara community,” said TKTM chair Jamie Tuuta.

For more information on the Waitara Lands Act visit: www.newplymouthnz.com
*Te Kōwhatu Tū Moana is the trust Board that represents Manukorihi and Otaraua hapū.

ENDS


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