Kia Ora,

Thank you for your email.

We are handling your request under the Local Government Official Information and Meetings Act 1987 (LGOIMA). We have forwarded it to the appropriate Christchurch City Council staff, and we will provide a response or update within 20 working days of the date we received your request. If we are unable to respond to your request by then, we will notify you of an extension of that timeframe.

If you have any queries, please feel free to contact me. If any additional factors come to light which are relevant to your request, please do not hesitate to contact me so that these can be taken into account.

If you have not had a reply within 10 working days please email us at [Christchurch City Council request email]

Kind regards,

Sean Rainey
Manager Official Information

show quoted sections

Ki ora,

 

I refer to your question for:

 

Re: 1974 Commonwealth Games Christchurch

 

1. Can you please advise the total cost of running the Games?

2. How much did the Council borrow and over what term and what interest
rate were agreed to for the Games?

3. When was this loan paid and what was the total amount paid including
interest for the Games?

 

Council Response

Much of this refers to events 50 years ago and Council staff researched
Council archives. We have found some of the information (including the
attached Council minutes), but much of financial detail has not been
retained. We have also attached relevant articles of the time around costs
and funding for your information.

 

 1. Can you please advise the total cost of running the Games?

The Council would not hold any costs to other parties/agencies. However,
once the games were over the cost to the Council was estimated by the City
Treasurer to be $4,661m.

                                                                                  

 2. How much did the Council borrow and over what term and what interest
rate were agreed to for the Games?

There were two major Local Authority Loan Board loans that was majority of
the funding provided by the Council for the Games. This includes the $2.1m
original loan and second loan for $620k in 1973 (both 30 year terms). We
have been unable to locate the respective interest rates.

 

 3. When was this loan paid and what was the total amount paid including
interest for the Games?

We do not have the ability to see the break down in loan repayments as
loan repayments figures are published only as one sum. We can find the
data from when our current financial system (SAP) was implemented in 2000
(with June 1999 balances), suggesting there were multiple loans in
preparation for the Games, likely for construction costs, but we do not
have any historic detail over the full 30 years. The loan balances were
cleared in 2002, 2003, and 2004, likely representing the final 30 year
maturity of the loans.

 

As per the above, we have decided to refuse some of your request under the
following section of the LGOIMA -  17(e) – the information requested does
not exist or cannot be found

 

You have the right to request the Ombudsman to review this decision.
Complaints can be sent by email to [1][email address], by fax
to (04) 471 2254, or by post to The Ombudsman, PO Box 10152, Wellington
6143.

 

Kind regards,

 

Sean

 

 

Sean Rainey
Manager Official Information and Privacy Officer
Official Information Team

Office of the Mayor and Chief Executive

 

 

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