We’re proposing a targeted rate to help fund the restoration of some of our central city’s most treasured heritage buildings.
In the past, we have funded these heritage buildings through the general rate but a new targeted rate will provide a clear picture of the portion of your rates that you are contributing to specific heritage projects.
We’re proposing that every ratepayer will pay this rate and it will be calculated as a number of cents per dollar of capital value. A fixed rate was considered but not preferred because a targeted rate based on house value was considered more equitable.
The heritage projects include:
- Canterbury Provincial Council Buildings: The targeted rate will help to fund $20 million of capital expenditure in the 2027–28 year.
- Old Municipal Chambers (previously known as Our City Ō-Tautahi): The targeted rate will help to fund up to $8.6 million in capital funding ($2.6 million in 2021–22 and $6 million in 2022–23). This funding will be transferred to the City of Christchurch Trust – a charitable trust set up by private company Box 112. Box 112 will undertake the strengthening and refurbishment of the building at the direction of the Trust, and will maintain the building over 50 years at no cost to Council.
- Robert McDougall Art Gallery. The targeted rate will help to fund $13.5 million of restoration work in 2022–23 to 2024–25. Depending on the outcome of consultation on this draft Long Term Plan, this could also include $11.8 million of funding towards base isolation work.
- Canterbury Museum redevelopment. The targeted rate will contribute $23.7 million to the redevelopment in years 2024–27.
The rate would recover those costs over 30 years, and would phase in over three years, so will be smaller in 2021/22 and 2022/23 than in subsequent years.