Commercial ratepayers to cop convention centre lion’s share

SHARE

Queenstown CBD commercial property owners will contribute the most to a proposed resort convention centre, a council report suggests.

Councillors will this Thursday consider a rating model to fund the council’s $30.9 million share of the forecast $55.5m project, touted for the council’s Lakeview site.

“While a convention centre is likely to be a positive for the district as a whole in terms of economic benefit, the most direct beneficiaries of it are targeted for the most significant contribution to the cost of its development and operation,” council boss Adam Feeley says.

Under the proposed model, 85 per cent of ratepayers would face rates increases of 0 to 3 per cent, or $10 to $130 a year.

At the other end, 2.5 per cent of ratepayers would face 15 to 26 per cent increases.

Feeley says the report endeavours to present the most conservative picture of the financial implications of the centre.

“Our advice is that the overall financial performance could be considerably better, and consequently the ratings impact could be less.”

If councillors adopt the report recommendations, it will provide detailed information on the centre in this year’s draft annual plan, due to be adopted for public consultation just before Easter.