Two new targeted rates will be introduced to help pay for the restoration of some of Christchurch’s most treasured heritage buildings.
Christchurch City Council has approved a new targeted rate that will be used to pay for a $5.5 million capital grant to help complete the remaining restoration work at the Arts Centre Te Matatiki Toi Ora.
More than two thirds of the Arts Centre has already been restored but the Arts Centre is struggling to meet the costs of the remaining work as its revenue has been affected by the COVID-19 pandemic.
The Council has also approved a new heritage targeted rate that will provide ratepayers with a clear picture of the portion of their rates that they are contributing to specific heritage projects.
“Christchurch has a long and proud history of protecting its heritage, so we’re changing how we rate in order to help raise the $82.5 million we’ve set aside for heritage items in the Long Term Plan 2021–31,” says Mayor Lianne Dalziel.
“Over the past 10 years, we’ve carried out a massive programme of repairs and restorations, but there are still some high-profile and beloved heritage buildings on the list.
“In the past, funding for these projects has come out of the general rate. These changes to how we rate are about offering more transparency to where the money is going.
“Consultation has shown wide public support for protecting our heritage. Every ratepayer will pay this rate and it will be calculated as a number of cents per dollar of capital value. We considered making it a fixed rate, but we decided a targeted rate based on property value was fairer.”
The projects that will be funded from the heritage targeted rate include:
The rate will recover these costs over 30 years, and will phase in over three years, so will be smaller in 2021/22 and 2022/23 than in subsequent years.