PARK COURSE

Gisborne Times, Volume LXXIII, Issue 11836, 18 January 1933, Page 3

PARK COURSE

PROPOSED SALE TO BOROUGH MINISTER APPROVES TERMS OF EXCHANGE; According to advice received by the Borough Council at last evening’s meeting, the Minister for Lands has approved of the exchange of the Makaraka Domain for the Gisborne Racing Club’s property. The valuation placed, on the club’s property is £6500 and, when all details have been settled, the Park course, which has been the stage for so many splendid race meetings in the past, will he available to borough and country residents as a public domain. The following letter, from th e Uu. der-Secretarv to tlio Department of Lands and' Survey’, came before last evening’s meeting of the council: "I have to advise that further investigations have been made into the question of values,- and as a result the Minister of Lauds has now been; pleased to approvo tlie exchange of the Makaraka Domain for the Gisborne Racing Club’s property. The authority" for the exchange will be section 37 of tlie Public Reserves, Domains, and National Parks Act, and tho matter will be arranged on the following basis : -‘‘The racing . club’s property, including the cottage property, to be transferred to- the Crown at a valuation of £6500. and the club to accept payment as follows (a) £ISOO in cash from the Makaraka- domain account ; (b) £2OOO in borough debentures; (c) the Makaraka Domain itself to b 0 transferred to the club at a valuation of £2500. "It is understood that the club w’ll paint tlie main grandstand, and will also include conveniences, loose-boxes and outside stand in the sale. T presume that your council will now approach the Local Government Loans Board in the matter of obtaining authority to raise the necessary loan of £2500'. ’‘When all finaiic’al' detail's hare been satisfactorily settled. T take it that the borough solicitors will arrange for the transfer io the Crown nf the racing chib’s proper tv. Upon the Crown receiving the unencumbered title, the lands will' automatically become a public domain under the r-ontrol of the council, acting as. a domain board, and the Deportment "-ill then arratio-e to srraht'titb*. ‘ to the club over the Makaraka Domain prooertv.” ••

- On the motion ; of the Alayor 6M> D. W. Coleman. ALP.) the matter was referred to the finance and rei serve. j oouimittee for a report- to-next meeting. ■