Earthquake strengthening: voluntary targeted rates scheme

### ODT Online Thu, 26 Jan 2012
New rate to fund strengthening
By David Loughrey
The Dunedin City Council gave approval for a second “targeted rate” system to improve city buildings yesterday when it voted for a scheme to help fund earthquake-strengthening for heritage building owners. That followed a decision on Tuesday to back a similar scheme to fund insulation and clean heating for residential buildings.
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The voluntary targeted rates schemes work by providing finance to ratepayers – in this case to complete earthquake-strengthening – with the cost to be paid off through rates over a specified period.

• There would be about $500,000 available in the first year.
• Applications would be considered by the four city councillors on the Dunedin Heritage Fund, and three New Zealand Historic Places Trust representatives, with a final decision by the council finance, strategy and development committee.

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Posted by Elizabeth Kerr

Stadium debt goes to 40-year term

Dunedin Mayor Dave Cull said he was “vehemently opposed” to repaying the debt over 40 years, because of the interest it would add to the bill, but would support it in the meantime to keep rates down. “But I see it as a short-term fix.”

### ODT Online Thu, 26 Jan 2012
Councillors spar over stadium debt
By Chris Morris
There were emotive arguments as Dunedin city councillors split into camps over the restructuring of Forsyth Barr Stadium debt repayments to a 40-year term yesterday. The move was approved by Dunedin city councillors for inclusion in the 2012-13 pre-draft annual and long-term plan yesterday, alongside a push to restructure repayments in later years to more quickly reduce the debt.
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It meant the council would be receiving the same rates as it would have from properties previously occupying the stadium site.

### ODT Online Thu, 26 Jan 2012
Backing for lowering stadium rates
By Chris Morris
Dunedin city councillors have given initial backing to a proposal to slash the Forsyth Barr Stadium’s $2 million annual rates bill. Councillors at yesterday’s pre-draft budget meetings voted in favour of resolutions that would cut the rates bill for Dunedin Venues Management Ltd – the company running the stadium – from $2 million a year to a more manageable $134,000 a year. That amounted to a 93% discount on the venue’s city council rates.
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### ODT Online Thu, 26 Jan 2012
Artificial turf stays in plan by one vote
By David Loughrey
An artificial turf, seen by Dunedin City Council staff as the future of sports fields in Dunedin, stayed in the city’s annual plan by a single vote yesterday.
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Posted by Elizabeth Kerr