Florists in Christchurch Rebuild
The Christchurch City Council admits it's battling to look after its rebuilding
work and should provide responsibility to a more capable development
authority specifically formed for the handling of development investment
opportunities for the city.
What is A Development Authority?
Typically a development authority is legally separate from the establishing city, in this case Christchurch. Establishing a development authority ensures that Christchurch has limited liability in certain business ventures and all risk of assets is attached to the development authority. This can allow for projects that serve the City without fully integrating them with local government.
It's proposing to establish a well organized and regulated entity that'll handle new and existing projects in the city and will provide a doorway of opportunity for investors to include themselves in the widely sought after rebuild of Christchurch.
The Christchurch Library, one of the many planned public projects, is an example of what this new authority would oversee.
Local Authorities Are On Board
Raf Manji, the Deputy Chairman of the committee of finances expressed his opinion this week in The Press and implied that the new management authority is a sound decision on the councils behalf because the council is spread thin and the welcoming of private investors who want to get involved is the best decision so far this term.
He recognized the councils need to address incoming inquiries from investors but expressed that the proper handling of projects is imperative to Christchurch's success. The designated independent board would have to give the final authorization of projects of course but would not be burdened with total oversight and logistics of new citywide development projects.
After today, Council CFO Peter Gudsell will give a recommendation for approval to build an official authority to oversee the development of Christchurch after seeing an a official report that the "planned capital program" was only accomplishing half of the initial proposed results after six years of proper implementation of the program.
What Does This Mean For Florists in Christchurch?
Establishing this commercial development authority will allow not just Christchurch itself to raise capital but local businesses including florists in Christchurch as well. With proper procurement policies to encourage overall growth that Christchurch can not currently facilitate having an avenue for investors to propose their joint venture projects will do exponential things for Christchurch. Florists in Christchurch should stay up to date on the current buildup to see if their region or business will be affected.
Salford Quays in Birmingham and London Docklands are projects abroad that Gudsell stated have been successful development authority projects an the authorities' presence had been instrumental in their implementation.
Chief Executive of the Canterbury Employers' Chamber of Commerce Peter Townsend is backing this proposal of a new development authority.
The Employers' Chamber, as the greatest business support service in the South Island, concentrates on helping associates to enhance their ventures; supporting new rates of business activity; and ensuring members can work in a business friendly environment.
The Canterbury Employers' Chamber of Commerce (CECC) is a not-for-profit organization that supports local companies and helps them to develop and evolve by providing training, consultancy, guidance, resources and networking opportunities.