A final decision on the future of the former chief post office building in the Exchange may be made later next year than expected, but the financial investigations being done by the Dunedin City Council are looking "reasonably good", council property manager Robert Clark said yesterday.
The council ended ongoing speculation when it confirmed in July it would investigate moving the Dunedin city library to the building.
Otago Regional Council chairman Stephen Cairns also confirmed the building was an option for his council, after it decided to shelve plans for its new headquarters on the waterfront.
The council signed a joint venture feasibility agreement at the time with building owner South Canterbury Finance.
The company was selling the building to try to recoup more than $7.5 million it was owed after recently bankrupted Dan McEwan, of the Auckland-based McEwan Group, failed to find finance for a project to build a Hilton Hotel on the site.
Mr Clark gave an update to the council's finance and strategy committee in a non-public section of the meeting last week.
Asked yesterday how the matter had progressed, he said the presentation was to inform councillors where the project fitted into the council's annual plan, and he was told to continue the work.
There was a time limit of early next year on the arrangement with South Canterbury Finance, but Mr Clark said there was an opportunity to extend that, and that would be done.
The financial investigation into the future of the building was "looking reasonably good", he said.
