City Scene April 1998 - Council to underwrite Park redevelopment

Council to underwrite Park
redevelopment

Included as part of the Christchurch City Council Draft Plan 1998 are proposals for the Council to support the redevelopment of Lancaster Park.

Council leisure and community services manager Alistair Graham says Council support is conditional on a number of criteria.

"We need to confirm that the redevelopment will generate extra earning capability for the Park; we are seeking a Lotteries Board grant; and we need reassurance that the cost of the redevelopment will not exceed $40 million," he says.

A working group, consisting of representatives from Council, the Victory Park Board, the Canterbury Rugby Football Union, the Canterbury Cricket Association and others with a direct interest in Lancaster Park, has been appointed to consider these issues.

Public submissions from the Council's draft plan process will also be taken into account.

"Lancaster Park is undoubtedly a great asset to Christchurch in terms of the high profile events staged there and through the revenue these events bring to the local economy. However, sporting bodies and event promoters have repeatedly warned that it must be substantially upgraded to remain viable for top sporting fixtures and other international events.

Lancaster Park is
undoubtedly a
great asset to
Christchurch

"That means high quality facilities for players on and off the field; seating for all or most spectators; a high standard of facilities such as toilets, accessways and food outlets; and high quality corporate hospitality options.

"This will all cost money, but we need to be aware that while standards improve, we should not price attendance at the park so high that regular patrons are excluded from attending events.

"Improvements such as these have a considerable cost attached, but are essential to retain the international sporting events we have come to expect in Christchurch. We need to know if people think it is appropriate for the Council to support the redevelopment of Lancaster Park so that it continues to be a premier sporting venue into the future and continues to provide benefits to Christchurch people and businesses," said Alistair Graham.

More parks for City

Parks receive extra budget in the Christchurch City Council Draft Plan 1998 with a total of $6.58 million scheduled to be spent maintaining and developing parks equivalent to $59.93 for each person in Christchurch.

Planned for development are 14 new parks and six extensions to existing parks, including sports parks, neighbourhood parks and heritage parks. The largest new park will be 34 hectare Templeton Reserve, adjacent to the new Canterbury Agricultural Park in Curletts Road. Castle Rock Reserve on the Port Hills in Heathcote is also a new addition, featuring tracks and terrain suitable for climbing.

Keeping pace with the growth of the City, in the 1998/99 year there will be 652 parks in Christchurch, covering 5,300 hectares a 75 per cent increase over the last five years.

Craig Oliver 941 8691

Council debt slashed

The return of funds from Council owned companies Southpower, the Lyttelton Port Company, and Christchurch Transport Ltd is a welcome return on residents investments. The $138 million is allows Council debt to be slashed, reducing interest costs which in turn allow Council to keep rates lower.

The companies were established with a relatively low level of debt to give them flexiblity to adapt to the challenges of the new operating and commercial environments. The Council left $67 million in Southpower and in 1991 the Council contributed capital of $7.8 million for Lyttelton Port Company to help it with needed funds for restructuring. This helped the companies to be highly commercially successful.

The return of capital by these companies has come as they restructure their finances into a more cost efficient mix of debt and equity.