The deal consists of a new Crown offer of $10 million plus an interest-free loan of $15 million. Photo: NZ HeraldAn offer of $35 million, along with legislation to fast-track the restoration of earthquake-crippled ChristChurch Cathedral, has been made by the Government and the Christchurch City Council today. The deal consists of a new Crown offer of $10 million plus an interest-free loan of $15 million. It leaves a shortfall of about $14 million, after the Cathedral Working Group Recommendation Report, released last month, recommended rebuilding the cathedral, at an estimated cost of $104 million. The cost of the restoration, however, has also risen and is now at $127 million, leaving a shortfall of $37 million.

Source: Otago Daily Times July 03, 2017 23:48 UTC