Palmerston North City Council has decided to hang onto a valuable forest, after exploring the possibility of putting it up for sale.

 

The council’s Finance and Performance Committee unanimously voted to recommend that Council retain ownership and consider ways to enhance the community environmental value of the 678-hectare Gordon Kear Forest property, south of the city.

 

The property consists of 401 hectares of young plantation forestry as well as 250 hectares of native forest.

 

The council instituted a review of its long-term ownership of the property following the first forestry harvest in 2016 and a report concluded that its value, from economic, social and environmental viewpoints was worthwhile retaining in public ownership.

 

Councillors were told that the commercial pine plantation is expected to provide a return of around 6% across the current rotation.

Palmerston North backs off forest sale