Delivering for Canterbury
The Coalition Government has delivered on its promise to make $300 million available to accelerate the Canterbury recovery, says Minister for Greater Christchurch Regeneration Megan Woods.
“For seven years, the recovery in Canterbury was too slow and uncoordinated, especially with the anchor projects in the central city. This Government’s plan brings new energy and faster progress for the people of Canterbury,” says Megan Woods.
“Budget 2018 provides $298.5 million of capital in 2018/19 for an acceleration fund, plus operating funding of $500,000 in 2017/18 and $1.0 million in 2018/19 for its administration.
“Christchurch City Council will be able to apply for capital investment through the fund to complete projects beyond the arrangements already fully dealt with in the Cost Sharing Agreement with the Crown. This will help speed up important projects in our city.
“Projects which might benefit from the acceleration fund include completion of the stadium and financing new uses for the Residential Red Zone.
“This fund is being guided by what the people of Christchurch want. While all the projects will of course need satisfactory business cases, we are not making Canterbury decisions from Wellington. Local decision-makers will be front and centre because they know what’s best for Christchurch. This new way of working has already shown success with getting the Metro Sports Facility back on track.
“This is a much-needed shot in the arm for the Canterbury recovery and will help deliver projects that will make a huge difference for local people. This Government is following through on its commitment to Canterbury,” says Megan Woods.