Christchurch bus interchange construction funding

Applicant

NZ Transport Agency

Purpose

To seek the Board's approval to invest in the construction of the new Christchurch central city bus interchange.

Date of decision

15 August 2014

Resolutions

The New Zealand Transport Agency Board:

1. approved a grant of $15.967 million to the Christchurch City Council to be funded by reassigning funds received from the sale proceeds of the former Lichfield Street site to the new bus interchange project
2. noted that the grant will be funded by reassigning funds received from the sale proceeds of the former Lichfield Street site to the new bus interchange project and a new approval of $6.075 million from the 2012-15 NLTP
3. noted that the Transport Agency contribution may receive funds by way of insurance payment for the former site
4. noted the reasons for this decision are set out in attachment 3.

Reason for the decision

The assessment profile for this activity has been determined as being of high strategic fit, high effectiveness and low economic efficiency.

The project will contribute to the recovery of central Christchurch, Christchurch as a whole and Canterbury and ensure the efficient and safe operation of bus passenger transport for Christchurch to 2041.

We confirm that the matters in sections 20(2) and 20 (5) of the LTMA have been satisfied, and that the matters in section 20(3) have been taken into account.