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Christchurch City Scene
April 2001

What About the $175 M ?


As most people know, Southpower (now Orion) invested in North Island gas networks about seven years ago. Last year the networks were sold at a profit, and, as a result, Orion will return $175m to the Council sometime later this year. To provide lasting benefit to ratepayers from the money,the Council has made the following proposals:
  • Use $100m to avoid having to borrow for important projects. This will save ratepayers about $7m a year in interest costs for the next 20 years. ($100m is roughly the capital cost of the new art gallery and the upgrade of the sewage treatment plant combined.)


  • Invest $75m in a capital endowment fund, which will provide income of about $5m a year. Of this about $1 m would be reinvested in the fund and about $4m would be available each year for civic and economic development projects, thus reducing expenditure directly from rates.

If you want to make a more detailed submission, please get a full copy of the Annual Plan from the Civic Offices, any library or any service centre, or ring 941 8888. You can also request a copy from our Web site www.ccc.govt.nz. Alternatively you can download the postal form, fill it in, cut out, fold, seal and freepost it to the Council


  Do you agree or disagree with the Council's plans for the money?
Please click the option you prefer.
 Strongly agree
 Agree
 Neither agree nor disagree
 Disagree
 Strongly disagree
 Don't know

  If you disagree, or strongly disagree with the Council's proposal, what would you do with the money instead?

  If you agree, or strongly agree with the Council's proposal, what do you think about the share of the money that will be used to avoid having to borrow, compared with the share that will be used for the endowment fund.

Used to avoid
borrowing in
the future
   Used for capital
endowment fund
   Please tick
the option
you prefer
None    $175m   
$50m    $125m   
$75m    $100m   
$100m *    $75m *   
$125m    $50m   
$175m    None   
* Council proposal

  If the Council goes ahead and sets up an endowment fund, how would you feel about the following uses of income from the fund.

Please tick the
option you prefer.
Strongly
Support
Support No feeling
either way
Oppose Strongly
Oppose
 Economic development
 Upgrading the Canterbury Museum
 Other Major Civic projects
 Revitalise the Central City
 Projects in local communicates

  Are there any other projects that you think the income from the fund should be spent on?
1.
2.
3.

Please return this form, and/or your submission before Monday 21 May if you wish it to be considered.

Name
Address

Please Note: This questionnaire is a public document. It will be made available to members of the public, including the media, communities on their request.

This page is not a current Christchurch City Council document. Please read our disclaimer.
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