The Christchurch City Council are actively seeking input into options for ensuring that it is financially viable long term. Under current projections things start to get really interesting from a financial perspective from 2016 onwards.
The Council will be considering all options, although some are much less likely than others. For example the capacity to raise more debt is limited and is almost certainly not a viable option.
Rates are already projected to continue to increase significantly and there will be very limited appetite from the community for an increased rates burden.
There are savings to be made through increased efficiencies, but in the context of a projected $800 million shortfall, they will be nowhere near enough.
The real money is in the long term service offerings of Council; Council’s ownership of land and property and its commercial entities, mainly positioned under Christchurch City Holdings Limited.
CECC will be making a comprehensive submission to CCC on what we consider to be the best way forward in the long term interests of our community.
If you have any views please send them through to me at firstname.lastname@example.org.
We are looking to the long game and it is going to be a critical play!