Asset-stripping furore in Whangamatā
4 minutes to read
Outise TCDC offices is Whangamata Ratepayers Rob Boston, Ben Dunbar-Smith, Helena Vaughan and Waveney Vaughan both of Whangamata. Photo / Alison Smith
Outise TCDC offices is Whangamata Ratepayers Rob Boston, Ben Dunbar-Smith, Helena Vaughan and Waveney Vaughan both of Whangamata. Photo / Alison Smith
As hearings got under way for the Thames-Coromandel District Council s Ten Year Plan, resident Ben Dunbar-Smith asked councillors: Why are we asset-stripping Whangamatā?
TCDC is proposing to sell a piece of industrial-zoned land at 101 Lindsay Rd for an expected $3 million.
The council has a forecasted $152m debt this financial year.
Selling the land would save ratepayers $8.40 annually, while a second option to keep the land and generate revenue from leasing it would save $4.50 on rates annually.