Carisbrook purchase by borrowing

UPDATED

### ODT Online Fri, 19 Jun 2009
Carisbrook difficult to value
By David Loughrey
It emerged this week [Carisbrook] will be sold to the Dunedin City Council in the next few weeks for $7 million, and while he was unwilling to confirm the figure, council finance and corporate support general manager Athol Stephens said yesterday the money would have to be borrowed.
Read more

****

### ODT Online Fri, 19/06/2009 – 1:48pm.
Comment by russandbev on Life membership for Harland and Chin
Let’s just track what is going on here. The ORFU owe the City $2m and this is overdue for repayment. The ORFU also owe the BNZ something like $4m but it could be a little more. The ORFU run at a yearly loss. The DCC borrows $7m to give to the ORFU for a property that will not be used for its current purpose. The ORFU then give $2m of the borrowed money back to the DCC and $4m to the bank…
Read more

Posted by Elizabeth Kerr

Leave a comment

Filed under Architecture, Economics, Hot air, Media, Politics, Site, Stadiums

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s