Tuesday, December 16, 2008

Only Government Cash Can Save Stadium

The plan for a new Stadium is dead unless the the Government comes up with money to replace the shortfall from other funding sources. The fund-raising from the private sector is well-short of target and the Community Trust of Otago has suffered from the current financial decline and no longer has a spare $10 million. I have no doubt that intense lobbying is going on to try to get cash from the new National Government's "infrastructure" spendup.
But the Government should be aware that giving money which enables the Stadium to go ahead will be controversial and unpopular with a large proportion of Otago people. Locals would be still left with high rates and an enormous debt to repay.
Surveys and submissions to local bodies have consistently shown a significant majority opposed to a new Stadium if it is largely publicly funded.

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