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Part A
A Community Co-operative Approach
To Acquisition and Development
of
The Waitangi West
Paradise Peninsular
Participation in a Waitangi West Alternative Lifestyle Community Co-operative is open to capable individuals and families worldwide, apart from those listed here as 'Exclusions'.
Although it is possible for individuals who are not New Zealand nationals or New Zealand permanent residents, and entities that are not registered in New Zealand, to purchase New Zealand property such as the Waitangi West Peninsular for farming or other development, the process is quite complicated, labourous, time consuming and expensive. That being the case the far more realistic, economic and simple approach is to establish a New Zealand registered entity where individuals or families - mostly regardless of their nationality - participate jointly and preferably with an intention to relocate to New Zealand to take up permanent residence. Such an entity could be a Private Company, a Co-operative or a Trust, among other options.
This particular example relates to the Co-operative option, where the overall cost of acquisition is divided into 30 equal 'portions', each of which represents one vote, one freehold title to an almost 125 acre allotment (total 3,750 acres), one thirtieth of the freehold ownership of the remaining property (4,650 acres+) and all that it contains, and one share of proceeds of the further development thereof. Participants (which can be individuals or families) are involved to the extent of the number of 'portions' they reserve. There is no limit on the number of those 'portions' a participant can own, but the overall membership is limited to 30 participants.
To maintain maximum security for all parties a reputable New Zealand registered legal firm is appointed as Stakeholder and legal representative for the purchaser (which is of course the Co-op participants) and as applications for membership are approved by the Managing Consultant Pluto International Holdings Ltd. the applicant will have 30 days to transfer (or to have irrevocably guaranteed in an acceptable manner) the required funds (which will equal 1/30th of the acquisition price together with Co-op legal fees and statutory authority transfer fees) to the Stakeholder's New Zealand interest bearing trust account for each 'portion' they wish to purchase.
Once the membership quota (30 portions) has been filled the Stakeholder/attorney registers the Co-operative as a legal New Zealand entity.
The Managing Consultant is recognised by both Vendor and Purchaser as interim Project Director and acts on behalf of all parties to co-ordinate the preparation and execution of the purchase contract, the transfer of funds, appropriate due diligence on behalf of the Co-op, arrangements via the parties' attorneys for the necessary statutory authority processes to be completed and the eventual cash settlement of the purchase of the Waitangi West property by the Co-op on the basis of a 'walk-in/walk-out going concern'.
No Goods & Services Tax (GST) has been allowed for in this process because a purchase as a 'going concern' does not require GST content.
All Co-op members can be signatories to all formal documentation if desired (but understand that this approach could be time consuming, expensive and create complications), or a committee of three Co-op members could be appointed to handle the formalities on behalf of all members. However, a far more simple and efficient way to approach this vital aspect would be to issue a 'Power of Attorney' signed by all members to the Co-op's New Zealand attorney with a mandate to handle all formalities, including execution of the purchase contract on behalf of the Co-op.
After settlement and possession a permanent Co-op committee is formed and a permanent Project Director is appointed. The present owners will provide, at no cost, a one or two month familiarisation period for the Co-op's representative/s and the Project Director begins the task of initiating the development. See Project Development Options items 'a, b, c, d and e' for more details.
Sufficient additional funds will need to be in place at the onset to cover the initial costs of survey, design work and related statutory fees etc, however the net return from the sale of the livestock, as detailed in 'item d' should go close to being sufficient to recover those outlays.
Seedling planting costs will need to be on hand also if a professional forester is to be employed for that task. However, as the NZU credits are allocated immediately the planting is completed the first year's returns, if it is decided that they should be sold, will be more than sufficient to recover that outlay also.
The Co-op members choose the design they prefer for their own villas/chalets and provide access to sufficient funds for them to be completed. The total required will depend entirely on that preference, and evidence that the full amount is on hand in New Zealand, and irrevocably committed to the relevant development aspect, must be provided before the order can be accepted by the mainland prefabricating contractor.
Work on this aspect can begin immediately the surveyor has pegged the boundaries of the members' individual 'portions'. As all buildings will be delivered to the site in ready to assemble form the actual construction can be completed in a matter of weeks after the foundations have been laid and the kit is on site.
To
Potential High Yield Co-operative Member
Support Mechanism Contributions | 
