Far North Housing
Board Meeting Minutes
Date:
29 September 2022
Time:
10:00am – 12:00pm
Location:
Board Room, Opua Marina
Attendees: Murray McCully, Sarah Petersen, Andy Nock, Bob Trautz, Rick Palmer
1.0
Welcome
The Board Chair, Hon. Murray McCully welcomed all to the meeting and thanked
them for their consideration and attendance.
2.0
Apologies
There were no apologies.
3.0
Compliance
3.1
Declarations of Interest
Declarations of Interest register was updated and accepted as submitted.
Sarah Petersen requested that the Board note her role as a Director of Tupu
Tonu (TT), and in providing ongoing support to the CFO/Finance team to Far
North Holdings Limited (FNHL) under contract with Soda Group Limited. Sarah
Petersen advised that she wil not participate in any discussions or decisions
relating to TT.
4.0
Health & Safety
5.0
Management Update
6.0
Papers for Discussion/Decision
Management update: RSA update: FNDC have approached us requesting a development
contribution payment of
per unit for the RSA housing project. This was
not required in the original RC. This request is in relation to the Infrastructure
Accelerator Funding (IAF) and wil assist FNDC to access
of IAF Crown
funding.
Resolution:
The Board recommends to the FNHL Board we offer to contribute to FNDC a
development contribution of
per unit for the RSA housing project.
Moved:
Sarah Petersen
Seconded: Murray McCully
Sarah Petersen left the meeting. Bob Trautz assumed the Alternate Director role
.
Kamo Road update: Having reviewed the draft LP documentation it is
recommended that Holdings creates the Limited Partnership (LP), sells Kamo
Road to LP for
, then sells 50% to TT, and 50% to Housing.
Resolution:
The Housing Board approve the purchase of 50% of the LP units and shares in
450 Kamo Road LP contingent upon FNHL granting indemnification of the
borrowings from FNHL to Housing.
Moved:
Murray McCully
Seconded: Bob Trautz
7.0
Any other Business
There was no other business
8.0
Next Meeting
Meeting closed at 12:00. Next meeting to be confirmed.
