Jack has probably rarked a few people up in his quest to raise the money, and good on him. It's a refreshing pleasure to deal with someone and know immediately where you stand.
Raising money for an oncology unit has highlighted again the lack of - and need for - a local community funding trust.
There is money from the sale of community assets tied up around the place, but we lack a body we can go to and apply for seed funding for projects such as an oncology unit.
As I've said before, towns that invested electricity reform funds in a public trust have done well. In Whangarei, that money comes back to locals via a dividend credited to locals through their power accounts.
Northpower also provides electricity consumers with an annual line holiday. Except it doesn't go entirely to locals, it goes to anyone who has a power account that happens to be living in Whangarei at the time.
Northpower has become an internationally-respected company.
Since 1993, the trust has returned more than $70 million to the community. It is an honourable gesture, but its worth is immeasurable.
What has been the return on that investment?
What would have happened if the money had been invested in a community fund?
The Northpower Trust is reviewing its ownership model and share distribution this year. Having just paid out $5 million in a line holiday, it will soon be asking people what they think about how Northpower is run, and whether the status quo will continue. I doubt many electricity consumers will notice, or bother making a submission.
Again, million of dollars will be spread thinly cross Whangarei, when cumulatively it could bring short and long-term gain - measurable investment gain - to this city. Time for a change, anyone?
editor@northernadvocate.co.nz
