The Crown will contribute $29.9 million towards repairing underground infrastructure in the Waimakariri district.
A cost-sharing agreement, made with the Waimakariri District Council yesterday, finalises arrangements for council-owned land and property, and repairs to roads and water systems in the district.
An estimated investment of nearly $50m is needed for repairs to infrastructure in Waimakariri, with the rest largely coming from insurance claims.
The Crown would also contribute more than $2m toward the $3.4m cost of removing unnecessary roading and repairing those needed, and a further $7m towards the total cost of repairing and replacing earthquake-damaged Waimakariri community facilities.
Canterbury Earthquake Recovery Authority implementation deputy chief executive Warwick Isaacs said he was pleased an agreement had been made.
"Echoing the agreement made with the Christchurch City Council earlier this year, this cost-sharing announcement will see the Crown contribute a total of $37m, which gives certainty to the Waimakariri District," Isaacs said.
All of the district council-owned land in the red zone not required for future use would be transferred to the Crown at no cost.
The council would control the insurance claims over buildings in the area, with any land insurance claims going back to the Crown.
The Crown would take over responsibility for any demolition needed and the ongoing maintenance of the area.
Isaacs said while decisions were yet to be made about future use of the red zone, there would be a consultation process with the district council and the community to make sure the right decisions were made.
If the Crown ever decided to sell the land, then the council would be paid out a portion of the proceeds of that sale.
- The Press
Would you consider using your retirement savings to buy a home?Related story: Retirement savings used for first home