On Monday (May 20th) evening a packed Victoria rooms at Invercargill Civic Theatre hosted a public meeting held by Invercargill City Council to discuss the investment by ICC of up to $30 million ($20M + $10M contingency for any over runs) in the planned $180M redevelopment of the centre city block of Dee, Kelvin, Tay and Esk Streets.
The development is part of HWCP Ltd a joint venture between ICC and HWR Group.
It was also revealed at the meeting that council would be up for an additional $20M even if council declines involvement with the development, the extra investment would be to integrate the inner-city development into the rest of the CBD / City Centre.
Mrs Hadley said the council was trying to be honest with ratepayers.
“We could ask for only $20million and after … oops. We found a overrun. We’re trying to be upfront and honest.”
The meeting was chaired by local lawyer Rex Chapman and presentations by city council CEO Clare Hadley and council executive / general manager of council owned Holdco Andrew Cameron on how councils involvement would play out, then the meeting was open to the public to ask their questions.
Many people had their say,including one lady who raised her concerns with the project then asked the audience for a show of hands of those against ICC committing up to $30M. The show of hands suggested those in attendance supported the council investment plan 80/20.
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