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$40-45 Million Soccer Specific Stadium - Petone Phoenix

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Posted June 10, 2014 10:02 · last edited June 10, 2014 10:03

Blew.2 wrote:

Just for the record stadium owner is  


Wellington Regional Stadium Trust

That's right Pet One you pay
 


Likely, but not certain.


The fact that it has Regional in the trust name doesn't mean everyone pays equally.


The stadium has on its balance sheet a good lump of debt in the form of limited recourse loans.

 

Those loans are from Wellington Regional Council (so Petone residents contribute through HCC), which everyone expects, but there is a second (almost as big) loan from Wellington City Council. Petone residents pay nothing towards the cost of that debt.


Who knows how a roof would be funded. Perhaps Wellington CC will see it as an investment in keeping events near to the City, and fund it in some significant way purely through Wellington ratepayer contributions. As the balance sheet shows, this is anything but a far fetched notion.


http://westpacstadium.co.nz/assets/Documents/WRST-AR13.pdf


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Smithy edited June 10, 2014 10:03
Blew.2 wrote:

Just for the record stadium owner is  


Wellington Regional Stadium Trust

That's right Pet One you pay
 

Likely, but not certain.

The stadium has on its balance sheet a good lump of debt in the form of limited recourse loans.
 
Those loans are from Wellington Regional Council (so Petone residents contribute through HCC), which every expects, but there is a second (almost as big) loan from Wellington City Council. Petone residents pay nothing towards the cost of that debt.

Who knows how a roof would be funded. Perhaps Wellington CC will see it as an investment in keeping events near to the City, and fund it in some significant way purely through Wellington ratepayer contributions. As the balance sheet shows, this is anything but a far fetched notion.