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The Church Property Trustees wrote to the council on November 5, offering to gift the memorial.
The memorial, which commemorates Cantabrians who died in war, needs to be moved from its current site next to Christ Church Cathedral so the reinstatement work on the cathedral can proceed.
It has some earthquake damage and rust on the inside, and also needs to be repaired and strengthened.
Under the terms of the offer made to the council, CPT will prepare and lodge resource and building consent applications for the relocation of the memorial and also commit the balance of funds from the Christchurch Earthquake Appeal Trust to making the move happen.
The company set up to oversee the reinstatement of the Cathedral, Christ Church Cathedral Reinstatement Ltd, will deconstruct the memorial and prepare the component parts for transport and storage.
If it accepts the gift, the council will be responsible for identifying a new site for the memorial, providing interim storage for it, and funding and overseeing its repair and strengthening.
The council already has $270,000 in its Long Term Plan for repairs and refurbishment of the memorial as it has always taken responsibility for its maintenance, under agreement with the church.
In a report prepared for elected members, council staff recommend councillors accept the gift - and have identified public land near the old Police Kiosk in Cathedral Square as the preferred site for the memorial.
Staff recently met with senior representatives of the Returned and Services' Association who are in favour of retaining the memorial in Cathedral Square, on council land as close as possible to its current site.
Read the report on gifting proposal here.