Agenda – Council – 20/04/2009 (PDF, 13.5 kb, new window)
Report – Council – 20/4/2009 (PDF, 472.5 kb, new window)
This report identifies progress made in meeting the terms and conditions the Council has set down for construction of the Awatea Street Stadium to be known as the Forsyth Barr Stadium at the University Plaza.
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The recommendations in the Report are:
1 That this report is received.
2 That the GMP, including escalation, from Hawkins Construct Ltd of $130,414,595 be accepted noting that the total project cost, including professional fees and adjusted sums is $164,012,035 and that there is an unallocated construction contingency of $1,387,865 for a total construction project cost of $165,400,000.
3 That progress in meeting the Dunedin City Council’s resolution 7 passed at a meeting held on 9 February 2009 which committed the Council to the Awatea Street Stadium project on the following terms and conditions be noted:
7a) Confirmation of Otago Regional Council funding of not less than $37.5 million – This has been confirmed by the Otago Regional Council.
7b) Satisfactory conclusion to the planning process and approval of a Plan Change by the Courts – The appellants have withdrawn their appeals to the Environment Court and the Council has declared the Plan Change operative.
7c) i) The Rates and Funding Working Party continues to identify ways in which the ratepayers contributions to the capital cost of the stadium can be reduced by $20 million providing it comes from sources other than the Holding Company – This is not a requirement to be completed before the signing of the contract.
ii) Discussion and agreement with the ORC occurs on the sharing of any external funding which reduces ratepayer costs – Discussions are underway between the Council’s General Manager Finance and Corporate Support and the Otago Regional Council’s Director Corporate Services.
7d) That Council retains the funding line in the draft LTCCP for the project – The Council has retained the funding line in the draft LTCCP for the project which is consistent with last year when the substantive consultation took place with the community of Dunedin.
7e) That a funding source to meet the $15 million shortfall in private sector funding be confirmed – The Government has agreed to underwrite the $15 million shortfall in private sector funding and discussions are underway to confirm the detail of this arrangement. The Hon Murray McCully is meeting with the Mayor, Deputy Mayor, representatives from CST and officials on Wednesday 15 April 2009 to further progress this.
7f) That the DCC instructs the CST to continue to investigate ways be either:
i) savings on the GMP budget
ii) additional funding over and above the target of $45.5 million
iii) to address the $3 million shortfall of funding from the target of $10 million, from the Otago Community Trust.
The Carisbrook Stadium Trust and its project delivery team are aware of the need to investigate ways to find the $3 million shortfall in funding from the Community Trust of Otago which has been confirmed at $7 million rather than the targeted $10 million and also continuing to raise funding over and above the $45.5 million private sector target.
Attachments
1 Hawkins Construction Ltd letter of 15 April 2009
2 Layman’s Guide to the Construction Contract from the City Solicitor
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Posted by Elizabeth Kerr
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