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Wednesday, June 8, 2011

CCC Draft Annual Plan - rates increases etc.

The CCC will release it's Draft Annual Plan 2011-2012 on Saturday, following consideration by the Council on Thursday and Friday. This is not the plan for rebuilding the city, rather it is the plan for how the CCC intends spending money on more normal things.

There will be a two week opportunity for groups and individuals to make submissions on the content of the plan before it is finalised.

Highlights and small points of the plan include:
  • the CCC is facing deficits totalling approximately $100m for the current and following three years (all arising as a result of the earthquakes)
  • insurance premiums paid by CCC are expected to rise as much as 300% for the stuff below ground and 400% for some things above ground
  • some projects on the council's books will need to be reconsidered, some deferred
  • a rates increase of 5.32% plus an earthquake premium of 2.21% (the latter to run for three years) is being recommended
  • removal of the central city shuttle
  • approximately 50% of CCC fees will increase, with a median increase of 3% (the bulk of the increases seem to be cost recovery only)
The CCC announcement is here and you can download the Council meeting agenda  from the same page. The plan will be available from the same link some time on Saturday.
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