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
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PALMERSTON NORTH CITY COUNCIL<br />
4. Panako Reserve – part <strong>of</strong><br />
<strong>Council</strong> owns a vacant section next to the Girl Guide Hall in<br />
Panako Place. The Girl Guides were mowing but have no<br />
interest in maintaining it or using it.<br />
The land is in one overall parcel with that occupied by the Girl<br />
Guides but could be separated <strong>of</strong>f and sold.<br />
Acquired from the Crown, <strong>Council</strong> would only be entitled to<br />
50% <strong>of</strong> the net proceeds <strong>of</strong> any sale.<br />
The site had been considered for a community garden but<br />
<strong>proposal</strong>s for community gardens in the area have been for<br />
on Awapuni Park which benefits in having a community<br />
centre, playground, and public toilets.<br />
Reserve under the Reserves Act?<br />
<br />
Yes<br />
Net proceeds would be used to acquire or develop other<br />
reserves.<br />
Proposed<br />
sale<br />
Option One: Sell the land<br />
Costs: Subdivision and sale $10,000<br />
Benefits: Estimated value $110,000<br />
DMS# 969036<br />
Crown derived land, proceeds split:<br />
- Return to <strong>Council</strong> $50,000<br />
- Return to the Crown $50,000<br />
Some mowing savings.<br />
Option Two: Retain the land<br />
Costs:<br />
Benefits:<br />
Opportunity cost for use <strong>of</strong> net proceeds $50,000 on<br />
other reserves<br />
Provides an option for unforeseen future community<br />
facilities.
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