The Global Settlement between the Crown and Christchurch City Council released today provides strong inroads towards re-setting a normalised relationship between the two entities, says Canterbury Employers’ Chamber of Commerce Chief Executive Leeann Watson.

The settlement finalises the remaining costs and responsibilities for Ōtautahi Christchurch’s earthquake recovery, outlining ownership of key local assets and the city’s future governance.

Ms Watson says the outcome of the agreement is largely positive for the Council and the city.

"Over the last decade, as a region we have experienced significant change in extraordinary circumstances, and the governance and oversight of our city’s assets have reflected that.

"Moving forward, this wrap-up of the cost-share agreement from 2013 will provide much-needed clarity and certainty for businesses and residents and will be a welcome re-set of the relationship between Crown and Council to align with other cities in Aotearoa New Zealand.

"It also enables us to increase momentum on our city’s growth trajectory and continue to shape Christchurch as an innovative, resilient and courageous city that is focused on delivering a vibrant, prosperous and sustainable 21st century experience for its businesses, residents and visitors.

"We are particularly pleased to see there will be no adverse financial impact to the Council and that senior officials from both entities will be appointed to monitor and implement this resolution in a timely manner. It is vital that we maintain momentum to deliver strong outcomes for the city, our businesses and our community."

Ms Watson says while the decision not to transfer ownership of Christchurch Convention Centre Te Pae was unexpected, it was a positive outcome for Christchurch, given that the expected economic benefits to the region would come at no additional cost.

"While the Council won’t own the centre, businesses and residents will still be able to access a world-class, purpose-built, future-focused facility, and be able to maximise and leverage the asset in terms of visitor and business attraction, without the potential additional rates burden of maintaining the centre.

"With the economic benefit of the facility expected to be more than $320 million in the first eight years and $57 million every year after that, we look forward to the opening of the centre in October next year."

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