Community-owned Masterton Trust Lands Trust (MTLT) yesterday announced positive financial results and a small increase in overall property portfolio value for the 12 months ended 31 March 2018. Read more
While the majority of MTLT property is leased commercially, about 12% (by value) is provided at nominal or no rent for community use.This property provides no financial return; instead providing social and cultural dividends to Masterton people.
These properties are made available to not-for-profit community organisations for a range of uses – educational, community, arts and culture. Some are provided to community groups for a concessional rental – for example Aratoi, Girl Guides and Harlequin Theatre. This means that rent is paid by the group for the property they use, but this is returned to them as a rental grant.
Other MTLT property is enjoyed by the community at nominal or no cost. This includes the Millennium Reserve, the Wairarapa College Farm, MTLT Education Centre on Dixon Street and The Spot Youth Centre.