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 />
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
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