Will the HBRC cut funding to the Dodgy Socialist Dam?

Chairman Fenton ?Jong-un? Wilson reckons the dodgy socialist dam can?t be stopped.

[T]he council?s acting chairman Fenton Wilson said regardless of how any new councillors viewed the project, there was little any new council body could do until the critical Supreme Court case now in play was resolved.

That concerned the land swap where 22ha of Department of Conservation land on the dam site was being exchanged for 170ha of private land.

The Court of Appeal overturned a decision allowing that to happen and DOC and the Hawke?s Bay Regional Investment Company were appealing against that decision in the Supreme Court.

An outcome of that decision was not expected until next year.

?The Supreme Court decision has a very wide-ranging impact, not only upon the dam project but for other DOC land swaps proposed around the country.

?That includes the relocation of Franz Joseph village due to natural hazards ? it can?t happen without approval on that land.?

Wilson dismissed any talk about the election result requiring a moratorium on the dam?s construction.

?The decision had already been made by the council and we have a large institutional investor waiting in the wings for the court case to be resolved. The dam had been dealt with prior to the election.?

His problem is that because it is a socialist project if it runs out of other people?s money it will fall over.

This is a huge problem, because the dodgy socialist dam requires $250,000 a month to keep going.

On top of that, if the new HBRC decide not to keep advancing money the dam cannot proceed.

Unless of course, an alternative investor decides that the project is commercially viable and buys it up.

Word has it that ACC are wanting a return exceeding 10% per annum for investing in the dodgy dam, and HBRIC can only make the numbers get to?a?6% return. That was before the courts chucked out the dodgy plan to steal DoC land for the dam. Now HBRIC would be lucky to get the numbers to work ever.

 

-Farmers Weekly

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