River buy sweetens profit for Tuwharetoa trust
|14 Dec 2015 14:15 PM|
The chair of the Tuwharetoa Settlement Trust says by working with other tribal entities like land and forest trusts and the Tuwharetoa Maori Trust Board, the trust has been able to turn itself round and lay a sound foundation for the future.
At its annual meeting in Taupo on the weekend, the trust reported a net after tax profit of $11.6 million to June 30, $10 million up on the previous year.
Rakeipoho Taiaroa says the highlight was buying the last of the deferred settlement properties, including the 8500 hectare Hautu Rangipo block with the Rangipo prison and forest on it.
"Tuwharetoa Settlement Trust didn't have the cash to purchase everything so through advice, through good management and collaboration with other Tuwharetoa economic authorities we were able to get the major milestone over the line and not only the prison land which is historically our property, we were also able to return 8km of the Tongariro River, one of the most iconic rivers in Aotearoa," he says.
The result means marae grants can be resumed.
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