Wānaka Upper Clutha Community Board (WUCCB) members will decide whether or not to approve new guidelines for a valuable financial reserve at tomorrow’s (Thursday May 6) meeting.

The Wānaka Asset Sales Reserve (WASR) is currently valued at around $3.4M but the upcoming sale of the last slice of council-owned land at Scurr Heights is likely to push its value up significantly. 

The reserve is “a key financial mechanism for supporting strategic community projects in the Wānaka-Upper Clutha Ward”, QLDC community investment advisor Giovanni Stephens said.

Guidelines for the fund were created in 2017 but proposed updates have been prepared over the past year, and WUCCB’s input taken into account via a workshop, Giovanni said.

More than $15M was raised for the WASR when the majority of council-owned land at Scurr Heights was sold in 2016 and, in the years since, funds from the reserve have supported a range of local projects.

With the final slice of Scurr Heights likely to be listed for sale by summer - and the money raised earmarked for the WASR - the new guidelines will help “clarify roles, strengthen governance, and better align the WASR with strategic priorities and legacy outcomes”, Giovanni said.

Also on the WUCCB meeting agenda tomorrow is a license to occupy (LTO) request for an air quality monitoring station at Rosella Lane, Lake Hāwea, and board chair Simon Telfer’s regular report.

The meeting will take place at 10am at the Lake Wānaka Centre.

PHOTO: QLDC