The controversy over Dunedin’s new Forsyth Barr Stadium continued this week with the news that Dunedin City Holdings Limited (DCHL) won’t be able to pay an $8m dividend to the city council. Part of that would have hleped fund the stadium.
That announcement was followed by news that negotiations between the stadium and promoters of Rod Stewart and Meat Loaf had broken down. It is, however, a moot point whether big name acts like that should need the venue for free.
But the stadium was officially opened this morning by Prime Minister John Key so like it or not, it’s up and running.
And I do like it – the only stadium in the country with a roof, and able to grow grass under that roof.
The opening game will be played this afternoon between university colleges Knox and Selwyn and on Sunday North Otago plays West Coast.
Sloppy journo reporting once again. Only $3m directly related to stadium funding.
The remaining $5m is simply a flagged reduction in the dividend to the $23m paid annually by DCHL to the DCC.
News now but not back in February when DCHL made this clear in their company Statement of Intent, agendaed for the 7 February meeting of the DCC Finance, Strategy and Development Committee and approved.
As you can read online at the DCC website here:
http://www.dunedin.govt.nz/__data/assets/minutes_agenda/0006/166353/ma_fsd_r_dchl_2011_02_07.pdf and here:http://www.dunedin.govt.nz/__data/assets/minutes_agenda/0015/170160/ma_fsd_m_2011_02_07.pdf.
The $64,000 (well rather more than that!): Why was it not important enough for the ODT to report then?
Many in the City of Faultlines were looking south with green eyes as the clear advantages of the more pragmatically designed stadium took shape.
Facing the probable destruction of Lancaster Park those same people are of the opinion that another F B stadium in our city is the way forward.
Congratulations to those with the vision to make it happen, Wellington without the Caketin is unthinkable.
RFD – thank you for the corrections. For the record I’ve been a supporter of the stadium from the start.
GD – The FB stadium would be a very good model for those charged with rebuilding/repacing Lancaster Park.
Great that stadium is built, if not running 100% – fire, concerning electricals last Fri. I had doubts, initially, then thought about generosity of the wealthy families who had built Dunedin on the back of sheep and gold-when we were wealthy enough for that to happen.
Today, the stadium has been built largely funded by debt, a relatively new financial instrument -so Dunedin/Otago ratepayers will be paying for some years.
I should be alarmed by by the debt burden, a mortgage, but I am not. Such are the company structures//insolvency laws these days both here and internationally that if the stadium goes belly-up there will be a solution. Countries, currently the USA and Europe may go broke but will survive.
But Dunedin will still have the best stadium in the country.
rfdunedin: good points. Politics at play, just as the stadium is opened. ODT all over it. Great.
“Why was it not important enough for the ODT to report then? ”
Perhaps the Smith family, owners of the paper, intervened?
On your first question: I guess it was not discussed and the reporter did not consider it important enough to pick up on. The days of “old-fashioned legwork” are long gone for most! And stirring up local issues is becoming the Oddity’s equivalent to a page 3 pin-up! Especially ‘on-line’!!
On your second question: I doubt that very much. There would be no reason for them to do so given their own newspaper did not report it!
So, “let the games begin”. I wonder if the ODT will “be all over the opening” tomorrow in their print edition tomorrow and patting themselves on the back for all the ‘positive’ support they have given the project? As Mr. Tui says, “Yeah right”.
Well, in reference to my last post, I am pleasantly surprised with the Editorial in this morning’s Oddity. Well balanced and – in my opinion anyway as one pretty close to the decisionmaking – pleasingly in tune with my own judgements. So, I can hardly be anything but happy!
And now, I hope to get to The Brook this afternoon as much for the game between Otago and Southland but to be part of the farewell to a place which holds so many great memories. These started when I first went to the ground in 1947 when Otago held the Ranfurly Shield. Sporting encounters dominate, of course, but right up there is also the memorable 150th Tattoo in 1998. Slainte!