$50m of extra funding for earthquake recovery

Budget 2014 provides an additional $50 million of operating funding over the next two years for the Canterbury Earthquake Recovery Authority, bringing the Government’s spending and commitments to rebuilding greater Christchurch to $15.4 billion.

The residential, commercial and horizontal infrastructure rebuilds are progressing well, but there is still much to do, Earthquake Recovery Minister Gerry Brownlee says.

“Recovering from the Canterbury earthquakes is one of the Government’s four priorities for this term, and no resource is being spared in seeing Christchurch and its surrounding areas rebuilt appropriately so they can thrive into the future.

“The additional funding for CERA, in addition to the $19.5 million funded from contingencies established in Budget 2013, will ensure it can deliver on its key priorities.

“In the residential red zone, 8,062 property owners have been given the certainty required to move from severely damaged or dangerous land and make a new start for their families. Over half those red-zoned properties have now been cleared, with all demolitions on the flat land scheduled to be completed by the end of this year.

“Budget 2014 also confirms funding for settlement with residential red zone property owners, clearances, site management and consideration of how the area will be used in the future.

“This package confirms multi-year commitments of $313.8 million operating funding over the next four years and $150 million in capital funding to continue land acquisitions in the CBD and to deliver the anchor projects outlined in the Christchurch central-city recovery plan.

“Day by day, as residents of greater Christchurch see new subdivisions springing up, buildings going up in the CBD and their house repairs being completed, they can see this recovery take shape, and a positive future becomes more tangible,” Mr Brownlee says.

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