A Dunedin-targeted rate created in 2010 to provide a way to fund specific tourism or economic development projects will be discarded, after it was never used.
The rate is to be combined with the commercial general rate, making no difference to the cost for ratepayers, and all other general rate differentials will be maintained by the Dunedin City Council.
The economic development rate brings in $500,000 a year, but that amount is then offset against the commercial rate.
The economic development rate was intended to provide a mechanism to collect specific funding for specific projects.
As things stood, it served no purpose and should be removed, a report for this week’s council meeting recommended.
Councillors agreed.
