The Far North District Council has re-affirmed its decision to transfer Russell Wharf to its commercial arm Far North Holdings for the sum of $1 — but with extra safeguards to ensure it can't be sold to private interests in future.
At a meeting in Kaitaia last week councillors voted to go ahead with the controversial transfer, subject to an agreement between Far North Holdings (FNH) and a yet-to-be formed charitable trust which, if it goes ahead as proposed, will co-manage the wharf.
That legally-binding agreement would provide for community and tangata whenua input into any decisions about the wharf, and require FNH to offer the wharf back to the council if it wanted to divest it in future.
Councillors also voted that accumulated depreciation for the wharf, totalling about $900,000, be held in trust by the council. FNH would be able to apply for the funding as required for maintenance.
Meanwhile, nominations for a trustee selection panel for the new Kororāreka Russell Community Wharf Kaitiaki Trust are due to close today.After that Russell residents will have just over two weeks to study the proposed trust deed and a memorandum of understanding (MOU) between the trust and FNH.