The Christchurch Regeneration Acceleration Facility, Global Settlement and Cost Sharing Agreement between the Council and the Crown.
The Council has finalised investment cases for the $300 million Christchurch Regeneration Acceleration Facility (CRAF) funding proposals. It is intended that $220 million from the fund will go towards the multi-use arena, $40 million will go towards seed funding for the Ōtākaro Avon River corridor regeneration(external link), and $40 million will go towards transport and roading improvements(external link) including projects that increase safety and the number of people using public transport.
Here are the investment cases that the Council submitted to the Crown in November 2019:
The Global Settlement Agreement is a collaboration between Christchurch City Council and the Crown to provide certainty on regeneration projects and issues and encourage momentum in the city.
The draft Global Settlement Agreement was made public at the end of July 2019, with the opportunity for people to give their feedback through deputations at a Council meeting on 6 August. The Agreement was approved by the Council on 8 August and approved by Cabinet on 23 September 2019.
The 2013 Cost Sharing Agreement covered the funding of major central city projects and the replacement and repair of Christchurch's damaged horizontal infrastructure network.