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Corporate and Financial Committee meets today
Friday 5 April
2013
Corporate and Financial
Committee meets today
Draft Statements of Intent from the Council’s seven trading companies were reviewed at today’s Corporate and Financial Committee meeting.
The Statements of Intent set out the objectives and performance measures for Orion, Lyttelton Port Company, Christchurch International Airport, Enable Networks, City Care, Red Bus and EcoCentral. The Council owns shares in these trading companies through Christchurch City Holdings Limited (CCHL).
The committee recommended the Council receive the draft SOIs from the trading companies, said Committee Chairperson Councillor Helen Broughton.
“It’s great that as a committee we have the chance to publically scrutinise and comment on these documents and we got through a huge volume of weighty work very efficiently today.”
CCHL is forecasting improved dividends of $46.0 million in the 2014 financial year, up from previous forecasts of $40 .7 million, based on the strong performance of City Care and also Lyttleton Port Company and Christchurch International Airport.
The committee also discussed options for the future of a Council-owned central city property on Welles Street. Development proposals for the site will be sought under a formal process if the Council supports the committee’s recommendation.
“We’d like to see this site used to revitalise the central city in line with the Central City Development Unit’s blueprint and other plans for the city. We’re not ruling out selling the site but the first step is to get a valuation, get some more certainty around the planning intent and then seek proposals. Several commercial and community groups have enquired about this property,” says Cr Helen Broughton.
The committee received half year financial statements for CCHL and the New Zealand Local Government Funding Agency Limited.
The committee also
reviewed draft Statements of Intent for:
• Christchurch
Agency for Energy Trust Board
• Vbase
Limited
• New Zealand Local Government Funding Agency
Limited
• Civic Building Limited
• Tuam
Limited
• World Busker’s Festival Trust
• Rod
Donald Banks Peninsula Trust
• Riccarton Bush
Trust
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