A level of confusion and resistance surrounded the Hastings District Council's decision to "approve an intent" to be a one-third shareholder in the newly formed Horse of the Year Limited company.
The company is being set up with Showjumping Hawke's Bay and the owner of the Horse of the Year event, Equestrian Sports New Zealand, in a shareholding agreement which would secure the major international event in Hastings for 15 years.
The council met yesterday to discuss the matter but the report on the proposal confused some councillors who were unclear about what they were being asked to decide on.
Councillor Mick Lester said he could not support the proposal without first seeing a business plan for the company while councillor Wayne Bradshaw said the plan should have been lodged with with the long-term plan, along with other public submitters.
Deputy mayor Cynthia Bowers, who was appointed by the council to a board investigating forming the company, said councillors were not being asked to commit to a sum of money, but to agree to be a one-third shareholder, to give some certainty to Equestrian Sports New Zealand.