Joint venture proposal
A new joint venture agreement for the management of Christchurch International Airport has been drawn up by the Christchurch City Council. Adopted by the council at a special meeting yesterday, the agreement will form the basis of discussions with the Government over the new airport structure.
It proposes that a Christchurch International Airport Board be set up to control and manage the airport. It would consist of five councillors and five members appointed by the Crown, for terms of three years. The board’s powers include purchasing property of up to $500,000 for any one contract, entering into work contracts with ' a value of up to $lO million and determining fees, charges and dues for the use of the airport. The objectives of the board are:
• To be as profitable and efficient as possible while exhibiting a sense of social responsibility. • To provide safe and effective facilities that meet the needs of aircraft operators. • To provide efficient and pleasant airport facilities that meet the
needs of the travelling public. • To ensure that the airport is self-financing and able to achieve a positive rate of return on airport assets. Cr Vicki Buck said the airport should also strive to enhance the South Island as a tourist destination.
The proposal says that any excess of airport profits shall be retained for ' development of the airport, and an airport master plan which will guide airport development for at least 20 years should be formed. One clause which caused some councillors concern was the proposal that short or long-term finance should be raised by the council in accordance with local authority loan-raising provisions and repaid from board revenue.
Cr Buck said this cut the council off from using low interest off-shore loans, and also meant the whole responsibility for raising them was on the council. A final agreement will be made after discussions with the Government next month.
The council suggests the agreement should begin on April 1 this year.
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Bibliographic details
Press, 27 January 1987, Page 1
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328Joint venture proposal Press, 27 January 1987, Page 1
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