ARANGA FARM SALE AGREEMENTS SIGNED

The government has signed agreements with the five farmers at Aranga in Northland who claimed their land values had been affected by the Waitangi Tribunal's report on the Te Roroa claim, the Minister of Lands Denis Marshall said today.

"The agreements provide for the Crown to purchase the farms at current market value, and a process for deciding this value was spelt out in the agreements."

"In addition, each farmer will receive a contribution towards their legal costs, valuations and removal expenses, to the tune of $71,000 each."

"The farmers will not have to leave their properties immediately as they will lease the land back under short term leases from the Crown."

"Following the purchases, the farms will be managed by Land Information New Zealand until the government disposes of them."

Media contact:
Iain Maclean
Ph (04) 471-9131 (wk) / (04) 239-9237 (hm)
Fax (04) 473-3446
e-mail: iain.maclean@mx.parliament.govt.nz

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