And DCC duckshoving…
Wherein the true meaning of “start-up capital” defeats the deputy mayor.
### ODT Online Sat, 6 Feb 2010
DVML funding over to council
By David Loughrey
A decision to provide start-up capital for the company that will run the Forsyth Barr Stadium one year earlier than expected was behind the impost of $2.48 million approved for the company this week, Dunedin deputy mayor Syd Brown says. And the oversight was not the responsibility of the Carisbrook Stadium Trust, but the Dunedin City Council, it emerged yesterday.
The sudden and seemingly unexpected financial hit has reignited fears the stadium and related ventures may result in just this sort of unexpected budget requirement in the future.
Post by Elizabeth Kerr