CCOs are organisations in which the majority of control is held by a council (or jointly with other councils). The majority control could be established by voting rights or by rights to appoint trustees or directors.
Quayside Holdings Limited (QHL)
Bay of Plenty Regional Council hold a 100% shareholding in Quayside Holdings Limited. Quayside is a responsible and commercially focused investor that aims to deliver sustainable, intergenerational returns. They hold and manage a majority shareholding in the Port of Tauranga Limited. QHL provides long term financial security to Council through a diversified investment portfolio and by ensuring the Port of Tauranga shareholding is managed in an effective and commercial manner.
Toi Moana Trust (TMT)
Bay of Plenty Regional Council has a majority holding in Toi Moana Trust. TMT was established as a financial investment designed to optimise returns on funds that were available for long-term investment and to protect the capital value of the initial investment.
Bay of Plenty Local Authority Shared Services Limited (BOPLASS)
Bay of Plenty Regional Council holds a 16.13 % shareholding in BOPLASS along with eight other local authorities. The councils that operate within the Bay of Plenty and Gisborne Regions formed BOPLASS to investigate, develop and deliver Joint Procurement and Shared Services projects where delivery is more effective for any combination of some or all of the councils.
Local Government Funding Agency (LGFA)
Bay of Plenty Regional Council holds a 8.29% shareholding in the LGFA along with 29 other councils and Central Government. The nature of LGFA is to provide lower-cost borrowing for New Zealand’s local authorities than the local authorities could individually acquire through private sector lending institutions.