|17 October 2000|
Council To Study A & P Cash Problems
A special sub-committee has been set up by the Christchurch City Council to look at how to help the financially beleaguered Canterbury Agricultural and Pastoral Association.
The sub-committee will investigate assistance for the association, which will include the possible purchase of association land.
"Should any land purchase option proceed it will assist the association and provide the Council with extensive park lands," says the Councils Funds and Financial Policy Manager, Geoff Barnes.
He says the association faces a difficult financial future. It is dependent on the success of the A & P Show for the bulk of its funding. Its debt level is a constant drain on cash flows, Mr Barnes says.
The association is a non-profit organisation and its primary function is to hold the annual Show, which has an historical significance for Christchurch and Canterbury.
It is a major link with the rural community which sees Christchurch as its metropolitan and commercial centre, Mr Barnes says.
The association operates on a 91-hectare site, adjoining Curletts Road, Wigram, and has a 44-hectare western site, which is undeveloped.
Mr Barnes says the most desirable option for the Council will be land purchase so the association can pay off its loans.
The sub-committee will report back to the Council with its recommendations.
Further information: Geoff Barnes: 941 8447.