City Block Consultation 2: Extra Money for City Block?
Consultation closed 12 June 2020
Each week we will make available the answers for a range of questions people have submitted.
Invercargill City Council wants to hear from the community on whether it should invest extra money in City Block.
Invercargill City Council and the community have recognised that in order to support economic and population growth a vibrant and healthy CBD is needed.
Following consultation in 2019, Council made the decision to be an investment partner in the redevelopment of the CBD. Council is a part owner in the land, which was secured for future development, through Invercargill City Holdings (ICHL) and HWR Property Limited. Council agreed to invest up to $30m ($20m + $5m contingency and an additional $5m for potential design changes) to support the first three stages of the six stage development. ICHL has purchased $25m shares in Invercargill Central Ltd (ICL).
Why is extra investment required?
At the time of the initial consultation, two private investors were identified as having committed to the development. Since that time, one private investor made the decision to invest no further funds beyond their initial $4m. Since consultation, Community Trust South and the Provincial Growth Fund have confirmed their investments in the development. As a result of these changes, and allowing for repurposing of $5m initially allowed for by Council towards design changes, there is a $16m gap in funding for the project. At this stage no other funders have been found to meet this shortfall.
What are we consulting on?
Council is consulting on whether to increase its investment to a total $46m, which incorporates:
+ Initial investment: $25m ($20m +$5m contingency)
+ $5m allocated to allow for design changes
+ $16m extra investment
For further details read the Consultation document.
There is also a range of background information from City Block Consultation 1 which you can find at the bottom of this page.
How can you submit?
Submit your views here: https://www.surveymonkey.com/r/cityblockconsultation
Alternatively, use the submission form in the back of the consultation document and:
Civic Administration Building
101 Esk Street
Bluff Service Centre
16 Gore Street
Submission – City Block
Invercargill City Council
Private Bag 90104
How can you speak to Councillors?
Hearings will be held in the week commencing 22 June. Please indicate in your submission form if you wish to speak to your submission.
We will also be filming Q&As with Councillors. You can submit your questions online at the Facebook page for City Block consultation
Alternatively send us your questions at firstname.lastname@example.org or phone us on 03 2111 777
Want to receive regular updates about issues Council is consulting on?
Email email@example.com to receive the email updates.
We look forward to hearing from you.
City Block Consultation 1
Consultation closed 1 August 2019.
Update 14 August:
Following deliberations during a full meeting of Council on August 12 and 13, Invercargill City Councillors unanimously voted to approve up to $30 million of funding for the City Block Development. Read full story
The Invercargill City Council wants to hear from the community about whether it should invest up to $30 million in the City Block Development.
At a meeting on Tuesday, May 14, Council adopted consultation documents, including a Statement of Proposal, having been asked by HWCP Ltd to invest $20 million in the development.
Chief Executive Clare Hadley said Council was asking the community if it should invest up to $30 million, allowing for a contingency of $10 million to be included in the budget.
Consultation will open on Saturday, 18 May, and run until 5pm on 28 June.
Mrs Hadley said there would be multiple opportunities for the public to hear more about the proposal, beginning with a public meeting hosted by the Invercargill City Council to inform the community about the proposal, and to hear initial questions and feedback, on Monday, May 20 at the Civic Theatre.
Pop along to any drop-in session to learn more, pick up a consultation document, and grab a submission form.
- Bluff Service Centre – Wednesday, 12 June, 11am to 1pm
- Farmers Market – Sunday, 16 June, 9.30am – 1.30pm
Plus look out for us at various sporting and cultural events.
Hard copies of consultation documents will be available from the Civic Administration Building, Invercargill Public Library, and Bluff Service Centre.
Council has also launched a new Facebook page, which will include information about events relating to the consultation.