The Press reports:
Christchurch will have $4.8 billion invested in its rebuild – $2.9b from the Crown and $1.9b from the city council.
There are many things that my taxes get spent on that I resent having to fund. But rebuilding Christchurch is not one of them.
Repair to horizontal infrastructure: The council has committed $1.1b to the costs of repairing and rebuilding Christchurch’s earthquake-damaged roads and underground pipes. The Crown’s share of $1.8b is based on agreed subsidies of 83 per cent for roading and 60 per cent for sewer, water and stormwater.
Anchor projects: The council’s contribution for the Anchor projects – the frame, the convention centre precinct, the stadium, car parking, the metro sports facility, the town hall-performing arts precinct, the earthquake memorial, Central Library, Avon River Park, Cathedral Square, the transport interchange and transport plan – is $782.9m, including escalations. The Crown will pay $1.1b.
Convention centre: The Crown will lead the convention centre rebuild. It is hoping to secure private sector investment but has allocated $284m to the precinct. There is no council funding towards this in the form of capital or operating costs.
The frame: The Crown is funding this project at a cost of $481m and when completed will transfer the public areas back to the council.
The stadium: The proposal is for a 35,000-seat covered stadium for sport and entertainment events over three city blocks between Hereford and Tuam streets, bounded by Madras and Barbadoes streets. This agreement caps the council contribution at $253m – the amount the council allowed for rebuilding the original AMI Stadium at Lancaster Park. The Crown will contribute $37m.
Metro sports facility: The Crown will lead this project, but the council will have final approval of the design and scope for the project. The council is contributing $147m of the total cost of the facility, which includes a competition pool, an indoor sports stadium and a movement centre. The Crown will pay $70m.
Transport interchange: The project includes a new central-city bus interchange, two central-city super-stops in Manchester St and at Christchurch Hospital, the Riccarton and Northlands malls suburban interchanges and Riccarton Rd bus priority measures. The Crown is seeking private sector investment to build and operate the transport interchange, but if this is not successful, the fallback position is that the council will own and operate the interchange.
The council will pay $40m and the Crown $51m.
Avon River precinct: The Crown is leading this project, with the council’s contribution being $6.4m. The Crown’s contribution is $89m.
Cathedral Square: The Crown and the council will work together on a joint project to enhance Cathedral Square, with the council contributing $4.6m, an amount the Crown will equal.
Performing Arts precinct: Given its determination to save one of the city’s landmarks, the Town Hall, the council will consider several options before August 31. These include saving all or part of the Town Hall and developing a cultural arts precinct adjacent to the Theatre Royal. The council has budgeted $158m, including the Town Hall rebuild, for this project. The Crown will pay $8m.
Central Library: The council will lead this project to build a flagship Central Library fronting Cathedral Square. The council has budgeted $60m for this project, with a further $29m from the Crown and philanthropic sources.
Car parking: The council will work with the Christchurch Central Development Unit and the private sector on central-city parking. At this stage there is a need for three central-city parking buildings. The council has budgeted $70m, which will be funded by repair funds and insurance proceeds from the Manchester, Lichfield, Crossing, Farmers and Crown Plaza car parks. The Crown will not contribute.
Earthquake memorial: The Ministry of Culture and Heritage is leading this project on behalf of the Crown, which is also funding the memorial. The council may be required to maintain the memorial.
Transport plan: The council is providing $27m towards changes to the layout of the central-city transport network and the Crown will pay $44m.
Great to have the all important issue of who pays for what, and how much sorted. This means the focus is more and more on implementing the rebuild rather than debating it.Tags: Christchurch