When it comes to Dunedin’s proposed waterfront vision, Robert Hamlin urges everyone to think carefully. When Forsyth Barr Stadium was proposed, business was to pay all its costs and that consequently no ratepayer funding would be required. Assuming a cost of $200million and repayments span of 20 years, the required debt repayment comes to $16.9million a year at 5.9%. This gives us an annual "business'' cost for the stadium of $34.5million a year. Mr MacKay describes what will be there as: "... five-star hotel, a cultural (convention) centre, a science (climate-change) innovation centre, apartments and cafes''.

Source: Otago Daily Times April 01, 2019 15:33 UTC