THE MARKET SITES.

New Zealand Herald, Volume L, Issue 15237, 26 February 1913, Page 8

THE MARKET SITES.

BOARD AND CITY COUNCJL. AMENDED TERMS AGREED TO. Amended terms were recently arranged between the chairman of the Auckland Harbour Board and the Mayor (Mr. C. J. Parr) regarding the proposed market sites. A letter from the town clerk was received at the Harbour Board meeting yesterday, setting out the amended terms as follows : —(1) That the Tental of the proposed public market and fish market sites should commence 12 months' from the date when the ' land is available for occupation; the council in consideration of this further concession to accept dedication of the road approach to Hob son Street Wharf without further expenditure by the board. If the council should receive any rent from the sites during the 12 months, the amount is to be handed over to the Harbour Board; (2) that upon the expiration of the term of 30 years already agreed to, the council shall be entitled to a renewal of the lease on the Glasgow principle, the rent for such renewal and for further renewals every 21 years to be "an annual sum representing 5 per cent, on the unimproved value of the property at the time, less a rebate of 25 per cent. In the event of the ouncil not exercising such option of renewal, the buildings erected on the land to become the property ol the board.

The town clerk's communication stated that these terms had been agreed to by the City Council.

The chairman (Mr. J. H. Gunson) said the .amendments were good ones. The board would not get 5 per cent, on the unimproved value of the property, and as there was to be a rebate of 25 per cent., it meant that the board would receive a rental representing 3$ per cent. With regard to the- road approach to Hobson Street Wharf, the length of this portion was 240 ft by 100 ft wide, and would have cost, the board a great deal before the council would have taken it over.

The board approved of the terms arranged T>y the chairman.