27 August 2008

Lake Taupo Protection Trust purchases two farms in the western part of the Lake Taupo catchment area.

Lake Taupo Protection Trust announced today that it has purchased two farms in the western part of the Lake Taupo catchment area. The Trust was set up to achieve a permanent reduction of manageable nitrogen going into the lake by 20% by facilitating land use change within the catchment.

Chairman of the Trust John Kneebone said today "There has been some delays in the Trust becoming operational due to a number of factors including legal constraints, funding limitations and the need for farms to be benchmarked to maximum nitrogen levels. That is behind us now and these first two purchases signals a more active role by the Trust in protecting the lake by changing land uses".

Mr Kneebone states "There has been considerable comment and discussion from within and outside the catchment on how the Trust will operate. I am hopeful that people will see that through these two purchases that the Trust will pay a fair price based on professional and qualified valuations and that we will act in a way that is flexible and good to do business with. Our key belief is "Te wai, te iwi" which recognizes that while ensuring the improvement in lake water, we will also work alongside people and act in a fair manner".

Both farms will be leased back to the existing owners while the Trust introduces a low nitrogen use of the land in perpetuity for the health of the lake.

The Trust has an overall aim of reducing nitrogen input into the Lake by 153 tonnes by 2020. It is calculated that over 90% of manageable nitrogen flow to the Lake r comes from animal waste and in particular urine discharges.

The Trust CEO Mr Graeme Fleming says "The purchase of farms is only one part of the strategy for reducing Nitrogen but it is obviously an important one for landowners in the catchment and provides the Trust with a direct means of achieving its goal of safeguarding the Lake. We have found however that every farm is different and that the circumstances in each case differ. The Trust will seek to work with each landowner and be flexible in its operation while relying on professional valuations to determine a fair price. We welcome approaches from any landowner who has been or is substantially through their Nitrogen benchmaking procedure and wishes to consider selling their property. Despite that our funding base is limited each year and therefore early contact would be advantageous for both parties"

For more information contact Graeme Fleming, CEO of the Trust on 021 846 996 or or email