While MPDC hasn't undertaken a development like this in some time, it is not unusual for Councils to purchase and develop land to help support economic growth. We have done this in Matamata in the past. Another nearby example is Hauraki District Council's industrial park at Kerepehi.

We have no current plans to undertake similar projects in Morrinsville or Matamata, however, have done a similar development in Matamata in the past.

The property was listed on the open market, which meant we needed to act quickly to secure it. To gather the level of information needed to make an informed decision has taken about seven months, and involved gathering the advice of experts in various fields.

It was also identified at the time of purchase that the land could always be sold if the feasibility study did not support development. A decision on the future of the land is yet to be decided.

The purchase price was $1,290,000 and was a fair price at the time it was bought in July 2022. We'll need to consider what the options are now we're not developing the land for light industrial use. Options could include (but are not limited to) relisting it on the market, or leasing the property and retaining it for future use. Our next step is to consider the future options for the land.

The property was listed on the open market, which meant we needed to act quickly to secure it. If the business case for a development had stacked up, the community would have had the opportunity to have their say on rezoning the land through the District Plan Change process.

Our priority was to recover the costs of the project and support the economic growth of Te Aroha. Profit-making was not a driver.