Awaroa crowdfunding approaching $1m
Nick Smith warns against overenthusiasm driving up the price.
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Hawke’s Bay
The crowdfunding to raise $2 million for a beach at the top of the South Island has reached more than $700,000 worth of pledges after a week.
The registered owner is Wellington businessman Michael Spackman, but he could not be contacted to offer his response.
He bought the beach in 2008 for $1.9 million, according to land records.
In addition to the thousands of members of the public who have given pledges, corporates like Kathmandu and Spark ($20,000) have also contributed to the campaign, hosted by Give A Little.
This has prompted Environment Minister Nick Smith to consider government funding, although he warned there was a risk that enthusiasm might drive up the price.
Crowdfunding campaign organiser Duane Major estimates he needs around $2 million to make a competitive bid.
Chris Hutching
Mon, 01 Feb 2016
Mon, 01 Feb 2016
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