PRESS RELEASE
Orewa, 4th July 2007

Available for immediate publication.

Changes to Property Management Possible--Council

The Rodney District Council is looking at creating a Council Controlled Organisation (CCO) to manage some of its commercial properties.

The CCO is among a number of options open to the Council as it seeks to optimise the returns from its investment portfolio.

"A number of properties have unrealised earning potential or could be sold or developed for the benefit of Rodney ratepayers," says the Council's manager for strategic projects Paul White

He says the Council's current preference is to establish a separate company to manage these assets. "A CCO enables us to take a more commercial approach and bring in extra expertise.”

CCOs are provided for under the Local Government Act, and are already used by a number of local authorities.

However, before the idea is to be considered further Council is seeking public comment and submissions. An information brochure and submission form are available from Council offices and libraries or from the Council's website www.rodney.govt.nz.

The submission period ends 5 pm Friday July 20 2007.

ENDS

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