Regent Upgrade Will Add $4.7 Million To DCC Debt

$4.7 million towards an upgrade of the Regent Theatre has been sneaked into Dunedin City Council Annual Plan at the last minute. Chief Executive, Jim Harland, said that, because this was "Health and Safety" work, it could be carried out without consultation. But there appears no reason why this item could not have been made public earlier so that the public would have had the opportunity to comment. "Health and Safety" was also used as to justify the Town Hall upgrade.
There was a suggestion that this work be funded by endowment funds. And the doubtful claim was made, that the Regent could fulfill the need for a 800 seat theatre by the putting up of partitions.
The $4.7 million will be funded by loans. This will add to the Dunedin City debt which Calvin Oaten calculated would reach $666 million next year.
The ODT has the story here.