INDEPENDENT NEWS

Consultation Opens On Voluntary Buy-out Programme

Published: Mon 20 Nov 2023 02:21 PM
Masterton District Council is consulting the community on its participation in the Government’s Future of Severely Affected Locations (FOSAL) buy-out programme for properties in Tinui damaged in Cyclone Gabrielle.
Under the FOSAL funding arrangement, the Government would contribute 50 per cent of the cost of buying out Category 3 properties if the Council funds the other 50 per cent.
Nine properties with 12 dwellings around Tinui have been provisionally assessed as Category 3, meaning they are not safe to live on due to risk of flooding.
The estimated total cost to the Council of the buy-out programme would be $2.5 million. The Council’s share would come from loan funding. The impact of this for the 2024/25 year would be an increase of 0.75 per cent in rates, an extra $26 per year for a median-value urban residential property.
Consultation is open now and closes at 4pm on Monday 4 December. Council deliberations will be held on 13 December.
Masterton District Council is encouraging submissions to be made via their website: www.mstn.govt.nz.
Hard copy documents are also available at the Council’s office at 161 Queen Street or Masterton District Library at 54 Queen Street.

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