Statement of Intent for HBRIC being released to public The Statement of Intent for the Hawke’s Bay Regional Investment Company Limited has been prepared and is now ready to be released publically.
The Hawke’s Bay Regional Investment Company (HBRIC) will manage some of HBRC’s larger and future investments in infrastructure around the region, including HBRC’s interests in future potential investments such as the Ruataniwha Water Storage Project, currently in the feasibility stage.
The goals of the company are to improve financial returns from Council’s investments in assets, with flow on benefits for ratepayers, and to help achieve Council’s strategic goals in regional infrastructure development and long term environmental benefits.
The Statement of Intent outlines HBRIC’s objectives and the activities it will be undertaking in the next year, as well as its corporate governance model and performance targets and measures.
A seven member transitional board was set up in February 2012 as part of a staged approach to governance. A permanent board will be appointed by December 2013.
The transitional board includes three independent members Jim Scotland, Sam Robinson and Andy Pearce (Chairman), along with HBRC Chief Executive Andrew Newman, Chairman Fenton Wilson and Councillors Christine Scott and Alan Dick.