Tag Archives: Massive debt

New pool —Or, SAFE electricity network for Dunedin and Central Otago

mosley-mcduck-dives-into-opm-disney-at-hellokids-com-tweaked-by-whatifdunedin

THE BULLSHIT METER is off the Scale:

At a Mosgiel Community Board meeting on Tuesday, Mrs Mosley said research revealed the community was willing to give up to $7.5million for the project.

### ODT Online Thu, 24 Nov 2016
Get your togs on, Mosgiel
By Shawn McAvinue
A date to get your “togs on” and make a splash in a new Mosgiel aquatic facility has been set and a decision about location is down to two sites. Taieri Communities Facility Trust chairwoman Irene Mosley said a timeline to build the facility had been made and people should prepare to enjoy a dip in November 2019. The trust had worked with the Dunedin City Council to identify two sites in Mosgiel to build the facility. […] The announcement of the sites would be made in the Otago Daily Times before Christmas so the public could provide feedback to the trust over summer.
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Oh Yeah! Let’s consult on the site for a new ‘4-pool’ complex [DO NOT mention the $$$$$$$$] while EVERYONE IS AWAY ON HOLIDAY. That way we the pool trust (using submissions from our pet Unmonied stakeholders) can easily shove it through Council, led and supported by Cull, Staynes and the new Lord of Finance…. who together, will never see large AURORA/DELTA DEBTS looming for Dunedin City Council ie for the Ratepayers and Residents of Dunedin and Central Otago.

BTW
WE the ratepayers, on behalf of DCC, DO NOT accept unsecured pledges from the Pool Trust– that’s a Stadium mugs’ game we CAN’T AFFORD to play anymore.

Comment from Jacob
Fri, 25 Nov 2016 at 11:23 a.m.
Did anybody bother to read the ODT front page propaganda from Irene Mosley ‘Get your togs on, Mosgiel’ ? Research had revealed the community was prepared to throw $7.5million, and might even want to make it $10million. Yeah Right. Then reported in the Taieri Times the same day, the Mosgiel food bank declared that earlier this year demand was at a 10-year high, and was to have a collection to ensure that nobody goes hungry over Christmas. Sounds to me like an awful lot of people out Mosgiel way can’t even afford to buy togs, let alone donate twice for a pool – once through their rates, and again through a donation.

Received from snorkel
Thu, 24 Nov 2016 at 12:43 p.m.
It’s an interesting ODT story, but let’s read between the lines. No transparency (not wanting to be up front with the sites – maybe a landowner with close connections to the trust, will get an inflated price). The timing of the new pool will suit Mike Lord as he’s made his intentions clear that he’ll run for Mayor next time.

█ Report: MOSGIEL POOL FUTURE AQUATIC PROVISION
30 November 2015
Department of Parks, Recreation and Aquatics
https://www.dunedin.govt.nz/__data/assets/pdf_file/0009/526248/ma_council_r_MosgielPool_2015_11_30.pdf (49 pages)

*OPM – Other People’s Money

Related Posts and Comments:
● 26.11.15 DCC report: Mosgiel Pool Future Aquatic Provision
16.9.15 DCC Please Explain —Mosgiel pool design to Warren & Mahoney
● 7.8.15 MOU DCC and TCFT New Aquatic Facility #MosgielPool
● 24.7.15 Hands off Mosgiel Memorial Gardens
● 23.7.15 Dunedin ratepayers —Green Island best site for city pool users…
● 22.7.15 DCC Long Term Plan 2015/16 – 2024/25
● 19.5.15 Mosgiel pool trust conflicts of interest #bigfishsmallpond
18.5.15 NEWSFLASH —Mosgiel pool, tracking [PONT] . . . .
17.5.15 Cr Vandervis on DCC project budgets
● 4.5.15 DCC: Draft LTP matter —‘Unfunded Mosgiel Aquatic Facilities’
● 7.5.15 DCC Draft LTP 2015/16-2024/25 —public submissions online
● 12.4.15 Mosgiel pool trust calls on Dunedin ratepayers to fund distant complex
1.4.15 ‘Pooling Together’ (TCFT) loses chairman, resigns [see Wanaka pool]
28.3.15 DCC Draft LTP 2015/16 to 2024/25 —CONSULTATION OPEN
25.3.15 DCC Long Term Plan: Green-dyed chickens home to roost
11.3.15 Mosgiel pool trust PLAINLY hasn’t got ‘$7.5M community support’
● 6.3.15 Propaganda from trust for Taieri pool project #Mosgiel
● 2.3.15 DCC: Mosgiel Pool private workshop Tuesday (tomorrow) [renders]
● 20.2.15 Taieri Aquatic Centre: 2nd try for SECRET meeting —hosted by Mayor
● 13.2.15 ‘Taieri Aquatic Centre’, email from M. Stedman via B. Feather
● 10.2.15 Dunedin City Councillors invited to Secret Meeting #Mosgiel
14.1.15 DCC Draft Long Term Plan: more inanity from Cull’s crew pending
11.10.14 New Mosgiel Pool trust declared —(ready to r**t)
23.7.14 Mosgiel Pool: Taieri Times, ODT…. mmm #mates
16.7.14 Stadium: Exploiting CST model for new Mosgiel Pool #GOBs
● 4.2.14 DCC: Mosgiel Pool, closed-door parallels with stadium project…
30.1.14 DCC broke → More PPPs to line private pockets and stuff ratepayers
20.1.14 DCC Draft Annual Plan 2014/15 [see this comment & ff]
16.11.13 Community board (Mosgiel-Taieri) clandestine meetings
25.1.12 Waipori Fund – inane thinkings from a councillor
19.5.10 DScene – Public libraries, Hillside Workshops, stadium, pools
12.4.10 High-performance training pool at stadium?

Posted by Elizabeth Kerr

This post is offered in the public interest.

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Filed under Aurora Energy, Business, Central Otago, Construction, DCC, DCHL, DCTL, Delta, Democracy, Design, District Plan, Dunedin, DVL, DVML, Economics, Electricity, Finance, Geography, Health, Hot air, Housing, Infrastructure, Media, Name, New Zealand, OAG, Ombudsman, People, Perversion, Pet projects, Politics, Pools, Project management, Property, Proposed 2GP, Public interest, Queenstown Lakes, Resource management, Tourism, Town planning, Transportation, Travesty, What stadium

DVML . . . | ‘Make the stadium work’ losses continue

Dunedin Venues logo 2 copyDunedin Venues Management Ltd (DVML) is a Council Controlled Organisation (CCO) —operating losses and compounding debt

### ODT Online Tue, 1 Oct 2013
DVML loss bigger than forecast
By Chris Morris
Ratepayers will not be hit in the pocket again despite the company running Dunedin’s Forsyth Barr Stadium missing its mark by nearly $700,000. Dunedin Venues Management Ltd on Monday revealed a $986,000 loss for the 2012-13 year, which chief executive Darren Burden said represented progress after a $3.21 million loss the previous year. However, the company had been forecasting an even better turnaround, with a $298,000 loss predicted for 2012-13 in a statement of intent published in July last year.

In the end, the $986,000 loss was $688,000 worse than expected, the company’s annual report confirmed.

Mr Burden said the loss could be covered internally using income from other sources, such as ground memberships and other private sector sponsorship arrangements.

Mr Burden said the forecasts for 2012-13 were actually completed in early 2012, about 18 months before this week’s results were released. Because of that, they were also based on only about six months of trading by DVML, he said. For those reasons, there was always going to be ”a level of uncertainty”, but the accuracy of future forecasts should improve, he said.
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Associated comments at ODT Online, in the public interest:

Really?
Submitted by overit on Thu, 03/10/2013 – 9:24pm.

As has been pointed out elsewhere, these figures may not be true reflection of the FB Stadium earning its way. Now that DVML has other income streams from the Railway Station and the Dunedin Centre it would be very interesting to see what the separated financial result for FB stadium is rather than DVML as a whole.

Maybe the ODT could report on this?

A grip
Submitted by russandbev on Wed, 02/10/2013 – 6:38pm.

MikeStK, the Larsen report and the PWC report – both of which were published in the ODT – made it plain that the whole basis of the stadium’s finances were nothing than hyperbole. Huge under-estimation of costs of construction, huge over-estimation of economic benefits, and under-estimation of on-going operational costs. By now, surely most proponents of this White Elephant can see how completely destructive this project has been on Dunedin’s well-being. The only people or groups to have benefited directly from this project have been the very fortunate land owners who sold at round 3 times the budgeted amounts, the private CST who received regular fees for their management of the project, the various “consultants” who provided glowing future forecasts for stadium usage which have all proved to be optimistic at best, the ORFU who have been bailed out, the few promoters that have received subsidies for bringing in the few shows that have been staged at the stadium, the anonymous economic impact analysts who provide regular non-peer group reviewed reports on mythical income, and of course the highly paid executives of the entities themselves who seem to make sure the balls are continually being juggled to obscure the true position.

And of course the people to pay for all of this are the ratepayers. Behind it all are the potential governance people who, it seems largely, want to just pretend that all in the garden is lovely. Well, everyone now has the opportunity to make your views known. If you don’t vote, then you are as much to blame as those that made this mess happen. Vote wisely.

Diverting debt repayments
Submitted by MikeStk on Wed, 02/10/2013 – 1:26pm.

Now just a minute – back when we were pretending that income from memberships were really “private fundraising” rather than pre-purchased ticket sales the city borrowed $45m to cover the fact that this money wasn’t going to be paid up front but would instead dribble in over 5-10 years. If Mr Burden’s now going to divert this money that was supposed to be used to pay off the debt borrowed against this future income to paying off his own losses who is going to pay off the actual $45m in principal and associated interest?

This whole rugby stadium thing appears to be a giant game of cups and balls.

Posted by Elizabeth Kerr

*Image: Dunedin Venues logo overstitched (re-imaged by Whatifdunedin)

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Filed under Business, Construction, CST, DCC, DVL, DVML, Economics, Events, Hot air, Media, Name, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums

RNZ National: Dougal Stevenson on Stadium

Radio New Zealand National Feb 22, 2009 9:54 am
Sunday Morning
Notes from the South

By Dougal Stevenson

“Hello. One Sunday in August 2006 I described events at a provocative choice of location. The Carisbrook Stadium Trust had chosen to launch a vision, downstairs from the Dunedin Casino. The lights dimmed, a recorded voice rose in volume to introduce the occasion – my voice, my paid affirmation of the vision, which I now regret…”

Podcast available (6′00″)

****

You can listen to Sunday Morning podcasts and streaming at http://www.radionz.co.nz/national/programmes/sunday by following the links provided.

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Filed under Architecture, CST, Design, Economics, Geography, Hot air, Inspiration, Media, Name, Other, Politics, Site, Stadiums, Town planning