11 Nov - 17 Nov
LOCALLY OWNED SINCE FOREVER
No 1026
LAKES WEEKLY BULLETIN
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Central Lakes Trust - what does it do and why should I care? Soon after our local government elections were decided, a new batch of voting forms arrived in our mailboxes. Maybe causing some confusion. These papers asked us to vote for trustees of the Central Lakes Trust. Many I know understand the Trust as a provider of funds, but still ask what is Central Lakes Trust (CLT), what does it do and why should I care? Following the national restructuring of the electricity industry in the 1990s, Central Otago voted to put its community owned power company assets into a perpetual charitable trust that would grow and distribute them for community benefit. This excellent act of forethought resulted in an organisation that has now awarded $158.9 million in grants since the final asset transfer in 2000. In that time, CLT has also grown its base fund from the original $155 million to over $571 million today. This is an important, impactful organisation in our community. CLT’s major asset is Pioneer Energy. Dividends from the energy company is a primary source of funds for distribution. In my thinking, this funding relationship is a very good reason why Central Otago people should consider buying electricity from Pioneer, all other things being equal. Basically, profits go back to community through CLT grants. This point doesn’t seem widely understood. CLT’s purpose is to be a reliable, long-term source of support for the organisations and initiatives that enrich our communities. Grants are guided by a set of principles: Enabling People, Enduring Environment and Enhancing Opportunities. Funded projects support wellbeing, inclusion, culture, the environment and other areas that help communities thrive.
Kieran Philip takes home the win at Arrowtown Backyard Ultra, completing 40 laps (40 hours) and 268km over the weekend
As you enjoy the Queenstown Trails, wildlife reserves like Tucker Beach, or take part in something at Te Atamira, enrol the children in a triathlon or visit a toy library, attend a community college, appreciate some environmental efforts, visit a friend in a housing trust home, or make use of recent medical facilities, consider the role that CLT may have played in ensuring that could happen - likely it has supported that effort. CLT impacts many, many parts of our lives with its investments. While it can’t fund every need, CLT plays a huge role in helping those who do the problem solving, working directly with many organisations to help. Trustees guide this work as guardians of the funds and their distribution. For these reasons, it’s important to know what CLT does and to play your part by casting your vote for those you feel are best placed to make these decisions and your behalf. The elections are now on and a glance at the voting papers show a bunch of skilled and well-known community people. Five of the nine on your form will join three appointed trustees. Please take the time to vote before the closing date of Nov 21. Alexa Forbes
Disclosure: Former ORC and QLDC Councillor Alexa Forbes is a candidate in the CLT elections
Donna Hewitt
Founder of Connect Realty & Real Estate Specialist
022 418 9904
donna@connectrealty.nz