Last updated:
Friday, 20 December 2019
This Cabinet paper and related Cabinet minute have been proactively released by the Minister for Greater Christchurch Regeneration.
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Only the Cabinet minute is extracted below in HTML. If you require a full HTML version of this Cabinet decision release please contact information@dpmc.govt.nz and cite DEV-18-SUB-0285 as a reference.
Extract from Cabinet Minute DEV-18-MIN-0285: Global Settlement With Christchurch City Council: Negotiating Parameters
On 5 December 2018, the Cabinet Economic Development Committee (DEV):
Background
1noted that, to unlock the potential of Christchurch city, a demonstrable transition is needed from the current extraordinary role played by central government towards a locally-led and sustainable regeneration;
2noted that the future ownership of a significant portfolio of Crown assets in Christchurch is uncertain, and that negotiating a global settlement with Christchurch City Council (the Council) is an urgent priority and a significant opportunity for the Crown;
3noted that there is a narrow window for the conclusion of negotiations by May 2019, when the Council’s focus will turn to upcoming local body elections;
Global settlement will finalise funding support for recovery and regeneration
4 [s9(2)(g)(i)]
5noted that the global settlement is intended to resolve outstanding matters relating to specific Crown and Council roles in earthquake recovery and regeneration to date;
6noted that the Council is in a relatively advantageous financial position, in comparison with other councils in New Zealand;
7noted that:
7.1 as part of Budget 2018, the government announced a $300 million Christchurch Regeneration Acceleration Facility [CAB-18-MIN-0158.11];
7.2 the Minister of Finance and the Minister for Greater Christchurch Regeneration (joint Ministers) have approved the Council’s initial proposals to earmark funding from the Acceleration Facility for $40 million towards future projects in the residential red zone (RRZ), and $220 million towards development of the Canterbury Multi-Use Arena;
7.3 the remaining $40 million in the Acceleration Facility has not yet been earmarked;
Janine Harvey
Committee Secretary of the Cabinet
