"Good news, bad news" was the tone of Oamaru Whitestone Civic Trust chairman Phil Hope's annual report to members recently.
The past year was disappointing, but Mr Hope had a positive outlook for the next 12 months.
The trust's biggest problem is money.
It did not get as much from rental of its buildings in the historic precinct as expected and this severely curtailed its plans.
"The paltry sum" of $25,000 could only be spent for repairs and maintenance on all its buildings, but it had to spend $36,000 on "only the basic necessities".
"The reality is we should be budgeting tens of thousands of dollars every year for each of our buildings.
"We are managing to balance our books simply by deferring maintenance and this has to catch up with us sooner or later," Mr Hope warned.
Despite being frugal, the trust would have been unable to pay all its debts without the first $50,000 of a $500,000 loan from the Waitaki District Council.
In the coming year, the trust is focusing on two areas: re-letting the Loan Mercantile Building (vacant since the NZ Malt Whisky Company was evicted for rent arrears) and how to spend the remainder of the council loan.
"Both will provide us with unique sets of challenges, especially spending the council loan money," he said.
The trust wanted to leverage the loan money with grants.
Then it would have to identify the projects most likely to increase rents.
"When you throw in conservation reports, Historic Places Trust approvals, compliance and regulatory requirements, nothing will happen overnight."
But, Mr Hope said, "not all is doom and gloom".
The trust had significantly improved its working relationship with the council, was pleased with the continuation of the Harbour St cobbles into Wansbeck St and the installation of more Victorian street lamps.
It also had several new tenants.
