Contact gives more time

Contact Energy has offered proponents of a riverside park near Luggate five more weeks to find the money to buy land for their conservation project.

In a group email to the park's supporters yesterday, Red Bridge River Park Trust trustee Lewis Verduyn-Cassels said Contact had extended the trust's fundraising deadline until August 25.

Contact had already postponed the sale of the 0.4ha property next to the Clutha River by 60 days to give Mr Verduyn-Cassels time to form a trust and raise more funds. The original deadline for the trust to meet Contact's $300,000 sale price was the end of today.

The figure was a counteroffer by Contact, which had rejected Mr Verduyn-Cassels' earlier offer of $190,000 plus GST for the property.

Contact's trading, development and geothermal resources project manager Neil Gillespie confirmed the latest extension to the Otago Daily Times.

He said it had not been requested by the trust, but Contact recognised the trust needed more time to raise the required $300,000.