Work to begin on an investment strategy for endowment land

The Cromwell Community Board has given the go ahead for the development of a draft investment strategy for Cromwell’s endowment land.

At the meeting on Monday (10 February 2025), the community board continued a discussion that began at the November and December meetings about an investment strategy and the draft principles and outcomes that would underpin it.

Investment principles

There would be five investment principles, which included making decisions that were consistent with: A healthy, thriving community; the original purpose of the Endowment Land to advance the betterment of and long-term strategic benefits for Cromwell; the aspirations as captured in the Cromwell Masterplan and Vision and associated Spatial Plan (and District Vision), and evidenced-based, transparent decision making.

Investment outcomes

There would be four proposed investment outcomes to reflect: Cromwell’s grow and the need to provide for residential and commercial demand; continued support for established industries (with draft wording to reflect emerging industries); recognition of risks and benefits of all investment decisions, and reinvestment of endowment land in meaningful social infrastructure.

At yesterday's meeting, the community board agreed with the draft principles and outcomes for the strategy subject to some amendments, and that work continued to develop the strategy in a timely manner.

Objectives also included enabling a framework for decision making by this and future boards and ensuring transparency with the community on the approach to developing the endowment land.

An update will also be provided to the Council on with this work at an upcoming meeting.