Pukeroa Oruawhata Holdings Limited Location: Pukeroa Oruawhata House 1176 Amohau Street Rotorua New Zealand Mail: PO Box 12-003, Rotorua, New Zealand Email: admin@ngatiwhakaue.iwi.nz		Board Members: Malcolm Short (Chairman) Stuart Harris Pihopa Kingi Rawiri Rangitauira Alec Wilson
Background Pukeroa Oruawhata Holdings Limited (Pukeroa Oruawhata Holdings Limited) was set up for the specific purpose of developing and managing the Railway Reserve lands returned by the Crown under the October 1993 Ngati Whakaue Agreement. All profits from the development to date have been reinvested to give the company greater equity in the project. The purpose of the company structure used for Pukeroa Oruawhata Holdings Limited is to take full advantage of commercial opportunities. The trustees cannot do that under the Pukeroa Oruawhata Trust (Pukeroa Oruawhata Trust) structure. Mechanisms are in place to protect the tribal asset including ensuring that the governance of both Pukeroa Oruawhata Trust and Pukeroa Oruawhata Holdings Limited is closely aligned.

Projects Update
Development at Rotorua Central continues. Rentals earned off existing tenants in the mall and the rest of the old railways block exceed $3.6 m per annum. Further buildings are planned as tenants are found enabling construction to be tailored to their requirements.

Another new building is currently proceeding - this time on the vacant area next to Countdown. This will be for Payless Plastics who have committed to a 930 sq metre store with room for one more tenant of around 430sq.metre. We have a very tight schedule but we hope that Payless Plastics will be open by Christmas.

Plans for the Spa and Casino development on the Ranolf Street end of the block are still on the table despite the Government moratorium on new casinos. The anti-gambling lobby have missed the point by targeting casinos. Casino developments around the world - particularly those that are indigenous owned and operated - are managed within a highly regulated environment that maximises the entertainment value. The lobby group is presently holding to ransom a multi-million dollar tribal development on the argument that 1.3 % of the population may end up with a gambling addiction. Neither the lobby group nor the politicians that support their views have come up with an alternative development that would provide jobs and a multi-million dollar income stream. They are strangely silent on the matter of employment and income generation for Ngati Whakaue and for Rotorua.

As individuals most of us will never be millionaires. Some Ngati Whakaue families right now are struggling to break through the poverty barriers. Yet collectively we own a million-dollar asset. The Government - at the behest of a fringe lobby group - are preventing the development of OUR property. If you feel as strongly as we do about ensuring Ngati Whakaue has the right to develop our land as we see fit then let the Government know.

Last year the Government extended the Casino moratorium for another 3 years on the basis that they needed more time to review gambling generally. A review was started inviting submissions earlier this year. However, before the review had even got underway the Minister of Internal Affairs announced that he was not going to have any more Casinos. So due to Government inadequacy with their policies here in Rotorua we now have all the potential problems of Gambling but none of the benefits.

There will be a casino in Rotorua one day. Pukeroa Oruawhata Holdings Limited directors are working hard to make sure that it is a Ngati Whakaue owned, built and operated facility.



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