Shelly Bay commercial arrangements confirmed
Shelly Bay commercial arrangements between iwi and developer confirmed
Representatives of the Shelly Bay development have confirmed the entities and arrangements for the project.
Speaking to a meeting of the full council this morning, The Wellington Company managing director Ian Cassels announced the arrangements between itself and mana whenua Port Nicholson Block Settlement Trust - a question that has long distracted detractors of the project.
Cassels confirmed that the entity that intends to commercially transact with the Council is Shelly Bay Ltd, which will be a joint venture entity between PNBST and TWC, once the resource consent decision has been made.
The transaction of the fourth parcel of land at the site from PNBST to TWC would not change the situation from what was promised to councillors at the time of decision.
In a supporting written submission he confirmed that the arrangements will be exactly as was promised to councillors in 2017 at the time the original decision was made.
In response to inferences that the internal arrangements between TWC and PNBST had changed since 2017, Cassels' submission presented the only change had been a positive one.
"The reality is that in the two years that we have waited for Shelly Bay to eventuate, the relationship between TWC and PNBST has continued to develop and mature, in anticipation of the project coming to fruition.
To date, the joint relationship has resulted in five housing projects with 822 units, and more expected in the pipeline.
Certainly, given the MoU arrangements and Treaty Principles that the Council is bound to honour, it would be irresponsible of councillors to turn a blind eye to the results for PNBST that have come as a result of the Shelly Bay agreement.
It would also be remiss of Councillors to say they were not aware of the growing relationship."
PNBST Chair Wayne Mulligan said that there would be a minority of iwi members who may disagree with various details but the purpose of the Trust is to work in the interests of its 18,000 strong membership, and the partnership with TWC was vital to that.
He said: "We did not get a just settlement..We will do what is needed to advance our people...in education, and to be an economic leader around the harbour."