Land transfer proposal to capitalise Development Christchurch Limited

Posted 07 Apr 2017 by GovtCCC

Christchurch City Council is asking for feedback on a proposal to transfer land to Development Christchurch Limited (DCL) to enable DCL to become a fully operational development company.

DCL is a wholly owned subsidiary of Christchurch City Holdings Ltd (CCHL), the Council’s commercial holdings company, and receives operational funding. However, the proposed land transfer means it would be able to access capital through borrowing to invest in Christchurch regeneration projects and fund future activities.

Mayor Lianne Dalziel says, “Transferring the properties to DCL will allow it to push ahead with a series of revitalisation and development projects for the city, and for places like New Brighton.”

Three properties are proposed for transfer: those at 82 and 84 Peterborough Street, which includes the site of the former convention centre; the City Care site at Milton Street; and three blocks of land on New Brighton’s Beresford Street currently used for car parking.

You can find out more details about the proposal, and how to have your say, at www.ccc.govt.nz/haveyoursay

No decisions have been made on the final use of the land, although DCL has had some initial discussions about possibilities.

“If the Council decides to transfer the properties, DCL will develop detailed proposals for each site and carry out site-specific engagement before final decisions are made. Council has set clear expectations with DCL about the improved economic, social, community and environmental outcomes that are expected,” says the Mayor.

DCL’s revitalisation approach for New Brighton has been approved by Council, subject to funding for various projects being secured. The Whale Pool upgrade is already funded and this year’s Draft Annual Plan includes a proposal for an additional $11.2 million, over the $8m already budgeted, to complete the first stage of the Hot Salt Water Pools.

Land transfer consultation
Public consultation on the proposed land transfer is open from Thursday 6 April to Friday 5 May 2017. You can have your say online at ccc.govt.nz/haveyoursay, by emailing engagement@ccc.govt.nz or by post:
Land transfer consultation
Attn: Katy McRae
Engagement Manager
Christchurch City Council
PO Box 73013
Christchurch Mail Centre
Christchurch 8154

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