Cash injection for local businesses
Our Back on Our Feet (BOOF) Covid recovery initiative to give local firms a boost when bidding for work with us is paying dividends, the Mayor and Councillors were told at their full council meeting on Tuesday. The Quarterly Performance Report for October to December showed a more than 14% increased spend with local suppliers. More than $2.6 million more was spent locally in the quarter compared to the previous year. In total, investment with local companies was up by more than $4.5 million compared to last year with 412 suppliers used from across Taranaki. Another BOOF initiative – helping keep tradies busy making homes clean and warm through low interest loans – had also had good uptake, with 189 applications approved for more than $1.1 million of work.
Historic pa site gets protection
The Mayor and Councillors have voted to protect the historic Hauranga Pā site at the Weld Rd Reserve, near Ōākura. The Pā site is a culturally significant area protected by Heritage New Zealand Pouhere Taonga, which had raised concerns at the continued damage to the sensitive steep part of the archaeological site caused by walkers and cyclists. After working closely with hapū, Iwi and locals on this issue for many months, the steep area will be fenced off and we’ll begin work to look at a pathway around the reserve.
Nest-egg in healthy shape
Our Perpetual Investment Fund (PIF) has had a $28.2m boost to sit with a balance of more than $320 million at the end of the last quarter. The performance of the PIF is due to an upturn in global markets after the shock of Covid-19 earlier in 2020. A total of $2.5m was released for the first instalment of the year, and this money goes towards offsetting rates. People can see how much their rates were offset on their quarterly rates bill. The news also comes as international ratings agency S&P Global boosted our long term rating from AA to AA+, reflecting strong financial management and confidence in the future.
Page last updated: 11:41AM Thu 21 October 2021