Commercial Subcommittee Closer in Tasman

The Council took another step toward the formation of a Commercial Subcommittee recently by 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 return targets and monitoring the investments to ensure those 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.