Tag Archives: Private sector funding (PSF)

Malcolm Farry, revisited at Nine to Noon (December 2008)

WARM FUZZIES

### radionz.co.nz Friday, 12 Dec 2008Malcolm Farry re-imaged [scene.co.nz] 1
Radio NZ National
Nine to Noon with Kathryn Ryan

Carisbrook Stadium in trouble (Link)
09:30 Malcolm Farry, Chairman Carisbrook Stadium Trust; and Jeff Dickie, property investor and outspoken critic of the stadium.
Audio | Download: OggMP3 ( 13′ 15″ )

Posted by Elizabeth Kerr

*Image: Malcolm Farry tweaked by whatifdunedin

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Filed under Business, Carisbrook, CST, DCC, DCHL, DCTL, Democracy, Economics, Highlanders, Hot air, Media, Name, New Zealand, NZRU, ORC, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums

Wednesday: Meetings of Council and FSD Committee, read DEBT

UPDATED 16.3.12

The week when everything blows. Tens and tens of millions of dollars lost like so many fluttering autumn leaves. Councillors, the worst of times. You are liable for wrath and accountable for so much more.

Comment received.

BlueBottle
Submitted on 2012/03/14 at 12:19 am

Tomorrow (Wednesday) there are meetings of Council and the FSD. The Council meeting is the one that was postponed from Friday because the draft long term plan failed its audit. It is still not good enough and should not be approved.

The meeting starts off with a secret session to decide how generous the ratepayers will be towards the ORFU. The terms “bail-out” and “blood-sucking leeches” definitely won’t be mentioned in the press release.

The new draft long term plan tells us that there is a report to be presented to a committee about the governance arrangements of DVL and DVML (see LTP page 5).

It turns out that negotiations to sign the stadium “venue hire agreements with major event owners” have failed, but we are told the LTP is written as if the agreements are signed.

The Private Sector Funding is now called (p5) Private Sector Debt. It isn’t “private” but it is “debt”, so that’s an improvement. Thanks to Audit NZ for that.

How they voted
After eight hours of deliberation and with no changes to the ORFU bail-out package put before them, Dunedin City councillors voted in this way:

Aye: Cull, Bezett, Collins, Hudson, Staynes, Thomson, Brown, Noone (8)

No: Butcher, MacTavish, Stevenson, Vandervis, Wilson (5)

Apologies: Acklin, Weatherall (both say they would have supported the package)

(via ODT Online 16.3.12)

Posted by Elizabeth Kerr

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Filed under Business, DCC, DVML, Economics, ORFU, Politics, Project management, Sport, Stadiums

‘Forsyth Barr Stadium Base Building Further Requirements’

Incompetence by another name, actually, ‘Carisbrook Stadium Charitable Trust Exclusions’.

Davis Langdon was asked to review progress made by the trust, and it was the reviewer’s report that first coined the term “exclusions” to describe what was considered to have been missed from the project’s planning. The exclusions included a kitchen fit-out, broadcasting facilities, electronic turnstiles, score boards and replay screens. -ODT

Dunedin City Council’s finance, strategy and development committee met on Monday 14 March.

How they voted
There were several votes at the non-public meeting. For the substantive vote, that the committee recommend the council approve additional borrowing of up to $5.15 million to fund capital expenditure for the stadium, Crs Bill Acklin, John Bezett, Syd Brown, Neil Collins, Paul Hudson, Chris Staynes, Richard Thompson and Mayor Dave Cull voted for, while Crs Fliss Butcher, Jinty MacTavish, Teresa Stevenson, Lee Vandervis and Kate Wilson voted against. Cr Andrew Noone had left the meeting, and Cr Colin Weatherall apologised for non-attendance. -ODT

### ODT Online Sat, 19 Mar 2011
How $5.1m worth of ‘exclusions’ became included
By David Loughrey
Construction at Dunedin’s Forsyth Barr Stadium may be rapidly reaching a conclusion, but in the shadow of the structure, the financial debate and the entrenched political tensions, continue. Dunedin City Council reporter David Loughrey explores why an extra $5.1 million funding was granted for the stadium this week, and finds some differing views.
Read more

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### ODT Online Sat, 19 Mar 2011
Editorial: Drilling into the debt mountain
Amid the bickering and sabre-rattling, some clarity is beginning to emerge on the true extent of the impost Forsyth Barr Stadium funding is imposing on Dunedin city debt levels. Part of that funding – $5 million annually, to be precise – is supposed to come from dividends yielded by the council’s various companies, under the umbrella of Dunedin City Holdings Ltd.
Read more

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More blither from people who don’t know how to fundraise, oh that’s DCC…

### ODT Online Sat, 19 Mar 2011
Trusts to be targeted again
By David Loughrey
Charitable trusts can expect another round of requests for funding for the Forsyth Barr Stadium, following a Dunedin City Council decision earlier this week. The decision came after a report to the finance, strategy and development committee that showed 16 trusts had been asked for money in the last few years, and four had come up with $7.9 million.
Read more

Posted by Elizabeth Kerr

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Filed under Architecture, Construction, CST, Design, DVML, Economics, People, Politics, Project management, Site, Sport, Stadiums, Urban design

Facebook. The DCC has lost the plot.

Discussion Board Topic:
The selling of the stadium since 2006
Compiled by Justin Miller. {Page no longer available. – Eds}

Worth a read. Remind yourself of the weird and wonderful claims made by the stadium project makers, when they don’t have a PR company to control runaway tongues or egos.

[The Facebook page might have gone but listen to this: https://soundcloud.com/christopherkeogh/the-dcc-has-lost-the-plot%5D

Posted by Elizabeth Kerr

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