Commercial Subcommittee Closer in Tasman

The Tasman District Council took another step forward to the formation of a Commercial Subcommittee in agreeing to the proposed Subcommittee’s terms of reference.

The Subcommittee, already agreed to in principle, will oversee the Council’s forestry, camping grounds, aerodromes and commercial property portfolio, collectively worth approximately $50m. They will be charged with identifying and recommending appropriate returns targets and monitoring the investments to ensure the targets are met.

The Subcommittee which will report to the current Corporate Services Committee will be made up of two elected members and three independent appointed members.

“The formation of a Commercial Subcommittee is further recognition of the Council’s commitment to sound and prudent financial management on behalf of the District’s ratepayers,” said Tasman Mayor Richard Kempthorne.

“With a clear focus and onus on delivering greater returns from the commercial portfolio we are expecting a positive outcome to the Council’s bottom line which, in turn, benefits all who live here.”

“The appointment of independent external members is to provide access to wider view and expertise, it is certainly not about a lack of expertise within the current Councillors. With the appointment of external members we will be able to draw on a wider pool of focused expertise whilst the current Council will have an opportunity to discuss and decide on such matters within their wider governance role.”

“Now that the terms of reference have been agreed it is envisaged that the appointment process for the external members will be finalised with the Subcommittee having its first meeting by the end of this year.”