Who will pay for the new Christchurch CBD?

Posted 31 Jul 2012 by Media3News Popular
Posted in Business , CBD , Rebuild , Media , CCDU , Legal
This item was posted on the 3News.co.nz website - click here to view the original

By Kloe Palmer

The Government's high-tech blueprint shows the future centre of Christchurch will be spilt into 12 sections, with state-of-the-art facilities scattered throughout.

So far the plan has been well-received, but now questions are being asked about how much it will cost and who's paying.

The new plan has impressed most of those who have seen it, but who will be footing the bill?

The city's residents might find they are paying, courtesy of rates increases.

"Over time that could be a very legitimate debate for the Christchurch City Council and the ratepayers," says Prime Minister John Key.

But it's unlikely some residents will be willing accept higher rates when they're feeling neglected in the suburbs.The Government will step up and fund some projects, like the health precinct.

"We will just pretty much get on and fund it and make it all happen," says Mr Key.

The Government is hoping its support will help encourage businesses back into the CBD.

"Our investment here is just a catalyst of a new city, and we think that's very worthwhile," says Earthquake Recovery Minister Gerry Brownlee.

Even though this is the Government's design, no commitment has been made to fund fan favourites like the covered stadium. 

"There's the commitment of where to put it but not how to fund it," says Mr Key, "so Cantabrains will have to think about what choices they want to make."

And after nearly 24 hours of questioning, no one's saying just how much it will cost or how long it will take to complete.