Council may sell forests

Waimate District Council is looking at selling some of its estimated $4.4 million in forestry assets.

In the draft of the long-term council community plan (LTCCP), the council said the outlook for forestry prices was uncertain and it was considering selling all or part of the forestry assets by way of public tender.

"However, it will only sell if it believes this is in the best interests of ratepayers."

All aspects of the forestry industry, including maintenance costs and returns were being monitored.

The forests most likely to sell were Athlone, Charnwood and Waihao.

"These are being valued and if the value is sufficiently high, council will proceed with a sales programme. If not it will retain ownership for now."

In 2001, the forests were valued as follows: Charnwood $2,127,000; Athlone $1,304,000; Joint Venture $463,000; Morven Domain $198,000; Waihao $155,000; Reserves $814,000.

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