CORPORATION LEASES

Dominion, Volume 9, Issue 2839, 2 August 1916, Page 4

CORPORATION LEASES

Those members of Parliament who objected to the clause in the "Washing-Up Bill" providing for a further postponement of the date of revaluation of certain Wellington tlity Corporation leases appear to have done so in the belief that the clause was prejudicial to the- City. It is not so. The question of revaluation in connection ~ with the City's reclaimed land leases in or near the'business centre is a most diffloult one to decide in the interests of-all parties. It cannot bo disposed of by the mere assertion that the present method is the best for tho City, or by tho contention that the system now in force is proved to be a just one bocause lessees, have been found to take up leases under,it. Tho City Council quite properly desires to secure the best possible return fr.om its properties, but, to ensure that, it has to offer them on terms that will encourage tenants not only to take them up, but to put them to the best possible use. It has, of course, to consider the rental returns, but it has also to bear in mind tho genoral effect of tho terms of its leases on tho progress and development of tho City. So far as tho particular clause under discussion in Parliament goes it docs not prejudice the City Council's position at all, for, though it postpones tho dato of revaluation, it is provided that whatever scheme' is finally adopted it will be retrospectivo so far as trie leases affecteel are concerned. Tho Government apparently has in view the appointment of a Royal 'Commission to investigate tho whole question and report thereon. Much will depend on _ the' personnel of such, a Commission, but if a suitable choice is mado tho City may 'find in its report a satisfactory way out of what has proved a difficult and an unpleasant situation between lit and its tenants.