statement of proposal property review - Palmerston North City Council
statement of proposal property review - Palmerston North City Council
statement of proposal property review - Palmerston North City Council
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
PALMERSTON NORTH CITY COUNCIL<br />
14. Andrew Young Street Carpark<br />
<strong>Council</strong> owns a 977 sq m, 24 car, parking area in Andrew Young<br />
Street. There are a large number <strong>of</strong> easements in place across the<br />
land in favour <strong>of</strong> the land occupied by Harvey Norman effectively<br />
meaning it can only ever be used as a car park for Harvey Norman.<br />
Income:<br />
Expenditure:<br />
$14,700 per year<br />
$3,200 per year.<br />
Renewals: Carpark surface in 20 years say $35,000<br />
Option One: Sell the land<br />
Costs: $2,500<br />
Loss <strong>of</strong> net income <strong>of</strong> $11,500 per year.<br />
Benefits: $200,000 to use for any purpose<br />
Reduction in future renewals programmes.<br />
Proposed<br />
sale<br />
Option Two: Retain the land<br />
Costs:<br />
Benefits:<br />
Future renewals requirements.<br />
Retains operational income.<br />
DMS# 969036
Change language