One of the most important steps forward in the earthquake recovery in 2013 was the signing of the Cost Sharing Agreement between the Crown and Christchurch City Council.
The agreement covers the funding of major central city projects and the replacement and repair of Christchurch's damaged horizontal infrastructure network.
View the Cost Sharing Agreement [PDF 4.93MB] between the Crown and Christchurch City Council [PDF 4.3MB]
Media release from the Government.
On 27 June 2013 a $4.8 billion cost-sharing deal between the Christchurch City Council and the Crown was announced. The agreement covers key Central City facilities and rebuilding the earthquake-damaged infrastructure.
The Crown is contributing $2.9 billion to the rebuild, and the Council $1.9 billion.
The deal is a significant milestone, giving certainty to residents, developers, business and investors around funding and allowing the rebuild to ramp-up.
The agreement around anchor projects reinforces the decisions made by the Council following community consultation on its 2012/13 Annual Plan. The Council has budgeted $782.9 million (including escalations) for rebuilding major Central City facilities.
As a result of the Council’s proposal to save the Town Hall, the Council will lead the development of a new performing arts precinct near the Theatre Royal. The Council is also responsible for building a new Central Library fronting Cathedral Square, rebuilding the city’s car parks and it shares responsibility with the Crown for enhancement of Cathedral Square and a new Central City Transport Plan.
The Council has committed $1.1 billion to the costs of rebuilding infrastructure. The Crown's current share of $1.8 billion is based on agreed subsidies of 83 per cent for roading and 60 per cent for sewer, water and stormwater. The contribution will be reviewed in a year when assessments of damage are finalised.
The Council’s $1.9 billion commitment in the cost-sharing agreement includes $782.9 million for the anchor projects (this figure factors in cost escalations), which is $22 million less than budgeted for in the Three Year Plan.
The Crown will lead this project, with the hope of securing private sector investment. No Council funding towards this in the form of capital or operating costs.
The Crown will lead and fund this project. Public areas will transfer back to Council on completion.
Central City Recovery Plan proposes a 35,000 seat covered stadium over three city blocks (bounded by Hereford, Tuam, Madras and Barbadoes). Council contribution capped at $253 million.
The Crown will lead this project. Council has final approval on design and scope. Council contribution $147 million.
The Crown will lead this project, and will seek private investment. Includes new Central City bus interchange, two superstops in Manchester Street and at the Hospital, the Riccarton and Northlands suburban interchanges and Riccarton road bus priority measures.
The Crown will lead this project. Council contribution $6.4 million. Crown contribution $89 million.
Joint Crown and Council project to enhance Cathedral Square with both contributing $5 million.
The Council will consider several options before 31 August this year. These include saving all or part of the Town Hall and developing a performing arts precinct near the Theatre Royal. Council has budgeted $158 million.
The Council will lead this project. Council has budgeted $60 million.
The Council will work with the Christchurch Central Development Unit and the private sector on three Central City car parking buildings. The Council has budgeted $70 million for this project
The Christchurch Earthquake Mayoral Relief Fund has pledged $1 million towards the Memorial. This funding has been possible due to the many donations Christchurch received following the earthquakes. Christchurch City Council owns and administers the land upon which the memorial will be built. The remainder will be paid for by the Crown, with the budget to be finalised when a design for the Memorial is chosen. An allowance of up to $10 million has been set aside.
Joint Council/Crown project. Council contributes $27 million to cover: enhancement of roads near the river; enhancement of Manchester Boulevard; health precinct enhancements; Fitzgerald/Kilmore bridge; Fitzgerald/Moorhouse intersection; and Lincoln/Moorhouse intersection enhancement.