ORC confession…

### ODT Friday, May 8, 2009 (page 10)
Stadium Funding processes ‘confusing’
By Rebecca Fox

The processes the Otago Regional Council has had to follow to part-fund the Awatea St stadium are confusing to many, director corporate services Wayne Scott says.
{story continues}

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See ORC chief executive Graeme Martin’s report to Extraordinary Council Meeting 11/2/2009 which provides a précis of the council’s stadium decisions.

ORC’s stadium decisions

June 5, 2008:
Council decides to undertake, subject to nine conditions, the proposed new activity of part-funding the Awatea St stadium and recommend a revenue policy.

June 25, 2008:
Sets February 2, 2009, as deadline for it to be provided with evidence of a tender for the stadium for a guaranteed maximum price of not more than $165.4 million.

February 11, 2009:
Council resolves to confirm part-funding of stadium subject to eight conditions including an assurance private sector capital funding shortfall of $15 million be met.

March 9, 2009:
Council satisfied condition 5 – assurance of government funding of $15 million – had been met and resolved for the draft long-term council community plan 2009-19 to incorporate funding of proposed stadium.

1 Comment

Filed under Economics, Geography, Hot air, Media, Politics, Stadiums

One response to “ORC confession…

  1. Elizabeth

    ### ODT Online Mon, 11/05/2009 – 8:12am.
    Comment by TheWatcher on ORC Stadium funding

    It is a ludicrous situation where the City Council easily lumps together DCC ratepayer funding and ORC funding to arrive at total funding for a Stadium, but we still do not know the average annual ratepayer rate demand towards the Stadium. Why not?
    Read more

    ### ODT Online Mon, 11/05/2009 – 10:28am.
    Comment by MikeStk on because…

    because it makes it easier to obfuscate how much we’ll really need to pay – there’s been all this shuffling money and debt into council companies, in and out of the CST (where [have] all those millions they’ve been given gone? we’ve yet to see a public reckoning for that) – there’s still going to be as yet unbudgeted extra money in the future going to the ORFU for Carisbrook and to CST for overheads and insurance for the stadium while it’s being built.
    Read more

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