Tauranga City Council has confirmed that the contract for the sale of the city’s Marine Precinct has now been settled.

Chief Executive Marty Grenfell says a recent High Court judgment dismissed an application for an interim injunction to prevent the completion of the Marine Precinct sale process.

“Justice J Andrew’s findings were unambiguous. Based on further legal advice, Council has now met its legal and contractual obligations with regard to the sale of the precinct,” he says.

“This also gives effect to the Council’s original strategic intent when the Marine Precinct was established in 2015, which was to help grow the region’s commercial marine sector and create significant economic benefits for the local community,” he adds.

“The reality is that in its current form, the precinct has never achieved its full potential, and ratepayers have been funding ongoing operating losses in the order of $1.5 million a year.

“This sale commits the purchaser to design, construct and complete development of the precinct so that it meets its strategic objectives and establishes a purpose-built marine service facility, for the wider benefit of the industry and the community.”

He says the Council will continue engaging with all marine industry stakeholders as well as ensuring that the wider interests of the community are met.

© Scoop Media