Bryan Cadogan.
Last week the council agreed to withdraw 3% of the $5million remaining from the proceeds of the sale of council forestry land to subsidise rates annually.
The 3% annual withdrawals of about $150,000 would equate to about $10 off each Uniform Annual General Charge on the rates bill.
Late last year, Clutha Mayor Bryan Cadogan said the ''intention was the proceeds of the sale would be ring-fenced to help offset rates for generations to come''.
The council accepted tenders from Dunedin City Forests and Niagara from 12 tenders on lots in Hillend, Milton, Lawrence, Kaitangata, Slopedown and Port Molyneux. The two tenders added up to $6.6million.
The council still owns lots at Invertiel, Heriot and Tapanui.
