You want an example of bizarre stuff happening at council level? Take a look at the Reading Cinema deal Wellington City Council is trying to stitch together 

The context here is that Reading Cinema is on Wellington’s Courtenay Place party strip, but it is closed and has been since 2019 because it is a quake risk- and now it’s becoming an eyesore.

But apparently, the council is trying to help the owners pay for the strengthening.

What it is reportedly offering to do is buy the land under the building for $32 million, which the owners can then use to strengthen the building. And then, those owners can buy the land back in ten years for $32 million.

How nuts is that? 

That land will undoubtedly value up in ten years, and yet, the Council wants to sell it back for exactly the same amount.

So basically, it’s just a complicated way of providing a loan of $32 million to the owners of Reading Cinema.

Now, ratepayers are going to have some opinions on this, because they are struggling to fund the earthquake strengthening of buildings like Town Hall, which they own and the repair of water pipes, which they own.

And that’s without helping pay for the renovation of a cinema owned by a company listed on the NASDAQ.

But here’s the really wacky thing- ratepayers are not supposed to know about this.

The details of this were supposed to be kept confidential, the deal was supposed to be struck without their knowledge, because it’s ‘commercially sensitive’, apparently.

And that is why the mayor has called in lawyer Linda Clark, to try to shut up the councillors who opposed this, because someone leaked the details to the media.

How outrageous is this?

To (A), stitch up a deal that uses what little debt allowance Wellington City Council has left to subsidise an US listed company.

To (B), try to keep it a secret from the ratepayers who just got hit with a 12 percent rates rise.

And then (C), try to shut down any public dissent.

Find me something more bizarre at council level this week and I'll buy you a ticket to the cinema, once Wellingtonians subsidise its reopening.

LISTEN ABOVE

You want an example of bizarre stuff happening at council level? Take a look at the Reading Cinema deal Wellington City Council is trying to stitch together 
The context here is that Reading Cinema is on Wellington’s Courtenay Place party strip, but it is closed and has been since 2019 because it is a quake risk- and now it’s becoming an eyesore.
But apparently, the council is trying to help the owners pay for the strengthening.
What it is reportedly offering to do is buy the land under the building for $32 million, which the owners can then use to strengthen the building. And then, those owners can buy the land back in ten years for $32 million.
How nuts is that? 
That land will undoubtedly value up in ten years, and yet, the Council wants to sell it back for exactly the same amount.
So basically, it’s just a complicated way of providing a loan of $32 million to the owners of Reading Cinema.
Now, ratepayers are going to have some opinions on this, because they are struggling to fund the earthquake strengthening of buildings like Town Hall, which they own and the repair of water pipes, which they own.
And that’s without helping pay for the renovation of a cinema owned by a company listed on the NASDAQ.
But here’s the really wacky thing- ratepayers are not supposed to know about this.
The details of this were supposed to be kept confidential, the deal was supposed to be struck without their knowledge, because it’s ‘commercially sensitive’, apparently.
And that is why the mayor has called in lawyer Linda Clark, to try to shut up the councillors who opposed this, because someone leaked the details to the media.
How outrageous is this?
To (A), stitch up a deal that uses what little debt allowance Wellington City Council has left to subsidise an US listed company.
To (B), try to keep it a secret from the ratepayers who just got hit with a 12 percent rates rise.
And then (C), try to shut down any public dissent.
Find me something more bizarre at council level this week and I'll buy you a ticket to the cinema, once Wellingtonians subsidise its reopening.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.