Hawke's Bay Regional Council to vote on ending Ruataniwha funding, writing-off $14M debt

Mon, 28 Aug 2017

By Jonathan Underhill Aug. 28 (BusinessDesk) - The Hawke's Bay Regional Council will vote this week on whether to stop any further investment in the Ruataniwha Water Storage Scheme and write-off a $14 million debt owed by its investment company. The vote on Wednesday comes as a result of a report into options following the Supreme Court decision to reject a Department of Conservation land swap need to create the storage scheme reservoir. The council's investment arm, Hawke’s Bay Regional Investment Co (HBRIC), owes $14 million to the c...

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