Hawke’s Bay Regional Council Chairman Fenton Wilson says some additions to its investment company’s Statement of Intent will provide further environmental safeguards for the Ruataniwha Water Storage Scheme.
At this week’s Council meeting, Hawke’s Bay Regional Council approved its investment company, HBRIC Limited’s Statement of Intent with specific clauses relating to the Ruataniwha Scheme. The Statement reflects the Council’s objectives for HBRIC Ltd and is updated annually.
Fenton Wilson says the addition of values included in the adopted HBRIC Statement of Intent, which clearly outline the Council’s desire to meet more stringent outcomes under Tukituki Place Change, is another building block for the Ruataniwha Scheme discussion.
“The request by the Council for an independent director on the dam company to oversee environmental outcomes with the scheme is also an important step forward,” says Mr Wilson.
The Council also agreed to delegate authority to sign the Ruataniwha Scheme Concession Deed to its Chairman on behalf of Council, once minor outstanding matters have been resolved. The Concession Deed governs the scheme owner’s obligations and the relationship between the scheme owners and the council. It also governs and ensures the transfer of the dam asset back to the Council or its successor in 70 years.
“The unanimous vote in support of the legal review of the Concession Deed reflected the comprehensive work by our legal team, and the range of questioning we had the opportunity to discuss with the team during Wednesday’s meeting,” says Mr Wilson.
25 August 2016
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