KEY POINTS:
The Government may buy back a multimillion-dollar coastal property at Te Arai Beach in Northland to stop an 850-home development.
Conservation Minister Chris Carter is seeking a market valuation for the land, south of Mangawhai Harbour, which was sold to Te Uri O Hau five years ago for just $5.2 million as part of a Treaty settlement package.
A spokesman for Mr Carter told the Herald yesterday there was no commitment to buy the property and any sale would depend on price. The sale to the iwi had been included in a heads of agreement signed in November 1999.
National Party conservation spokesman Nick Smith said the land was now valued at $65 million and the hapu had said it would not accept less than $100 million.
The Rodney District Council has accepted a request for a plan change and a variation to the district's major planning documents to build a resort settlement in 616ha of pine forest at Te Arai.
The request has come from Te Arai Coastal Lands, a joint venture of Maori-owned Renaissance Group and developer New Zealand Land Trust.
Te Arai is the only entirely undeveloped large ocean beach on the east coast of the region.
