Matauri Bay `will never be the same'

A subdivision designed to save a Far North hapu's tribal land needs to deliver practical benefits too, such as apprenticeships for young hapu members, the largest shareholder in the group says.
Labour list MP and former Maori Affairs Minister Dover Samuels is the largest single shareholder in the Matauri X Corporation, which earlier this month was granted resource consent to subdivide 139 sections on a block of tribal land overlooking Matauri Bay.
The Ngati Kura hapu sees the subdivision as a way of staving off financial ruin after former bosses of the corporation bought into a water bottling venture that failed and left the group with debts of more than $5.5million - and rising because of penalty interest.
Mr Samuels said the corporation and its shareholders were caught between a rock and hard place over the subdivision, which was needed to prevent the land being sold and lost to the hapu forever.
"It's sad we had to do it. Most of the shareholders were not part of the decision-making process that resulted in the debt to begin with," he said. "This is a very unique situation that wouldn't happen to other land as there would be requirements about full disclosure to shareholders before a debt like this would be incurred on the land.
"But the reality is that shareholders are not financially in the position to pay off the debt. We have no option but to do this to save our land."
Mr Samuels said the shareholders made their concerns known to the Far North District Council committee hearing the consent application and those issues had been addressed with the stringent conditions placed on the development.
"I hope that the opportunities for economic development and advancement are given to the shareholders from this," he said.
Mr Samuels said he would like to see the developers give apprenticeships to young hapu members so that skills stayed within the Matauri Bay community and hapu members had the chance to progress themselves.
He would also like to see the hapu explore cultural opportunities as part of the development.
"Matauri Bay will never be the same again, though. The sleepy, tranquil atmosphere of Matauri Bay will never be the same now, but I'd like to see some opportunities develop for our people from this."
Meanwhile, Mr Samuels has declined to comment on reports that he has sold his Matauri Bay motel complex for up to $4 million.
He said the issue his private business that involved freehold, private land.
* X MARKS SPOT
• Former bosses of Matauri X corporation, led by then chairman Hemi Rua Rapata, borrowed money from BridgeCorp and Instant Funding to invest in Eternal Waters mineral water company.
The venture was expected to return up to $18 million over six years but went belly up with losses of more than $2 million, putting the tribal land at risk.