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### DScene 20 Mar 2013
Rant or rave: your say
Missing million (pages 8-9)
By Terry Wilson – Parkside
We see in D Scene that the Dunedin City Council paid $7 million for Carisbrook while their confidential valuation was for only $2.5m.
Mayor Dave Cull said that the purchase was to shore up the finances of the Otago Rugby Football Union.
If the real purpose of the sale was to donate an overpayment of $4.5m to the ORFU, then the DCC has misled the public during the public consultation on the matter. It might be inappropriate for me to suggest that the $7m non-confidential valuation of Carisbrook was procured by the DCC for the purpose of justifying the undisclosed $4.5m overpayment to the ORFU.
The validity of this valuation seems very questionable to me. Following this $7m payment, the ORFU required a further DCC bailout. One factor in this is that they only received $6m, not $7m.
The DCC has been questioned many times about what happened to the missing $1m, but they won’t say.
I think the public wants to see more honesty from the DCC.
Mayor Dave Cull replies: ‘‘$7 million was paid to the ORFU by way of $5m in cash and a $2m offset of a loan of $2m previously lent from the council to the ORFU.’’ #bookmark
Posted by Elizabeth Kerr