Public consultation on investment in inner-city development

The company, behind the $200million inner-city development, attempted to gain resource consent at...
The company, behind the $200million inner-city development, attempted to gain resource consent at a hearing in March to demolish the CBD block. The decision would be expected in June. Photo: File

The Invercargill City Council is asking the community if it should invest up to $30million in the inner-city block development.

At a meeting yesterday, the council approved public consultation about the matter which would start on Saturday.

The council has been asked by HWCP Ltd - a joint venture between the Richardson Group and the council - to invest $20million. A further $10million contingency was being considered.

The proposed contingency was $5million for budget overrun and $5million for any enhancements the council might seek as a result of advice and submissions through the process.

Through its holding company Invercargill City Properties Ltd, the council has already invested $5.45million at HWCP Ltd.

Clare Hadley.
Clare Hadley.

The company, behind the $200million inner-city development, attempted to gain resource consent at a hearing in March to demolish the CBD block. The decision would be expected in June.

In the meeting, Cr Alex Crakett said the council always intended to consult the public about the investment.

Cr Ian Pottinger challenged part of the document which said ''a new entity would be formed to undertake the development''.

He said the public might have a different approach to the consultation if they did not know ''who would be be running the show''.

Chief executive Clare Hadley said the council did not have the answer to that yet.

A public meeting would be held in the Civic Theatre on Monday at 5.30pm.

Consultation for the investment in the city block would be open until June 28.

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