Dunedin’s stadium will need more help to reduce debt before the end of its operational life, the Dunedin City Council has been told.
At Monday’s council meeting, Cr Lee Vandervis asked what the plan was to pay back council-owned company Dunedin Venues Management Ltd (DVML) debt’s associated with Forsyth Barr Stadium.
Dunedin City Holdings Ltd chairman Tim Loan said consultants had been working with the council to develop a long-term model for the stadium, including at the end of its lifetime which was estimated to be 2060.
“We’re wanting to ensure that, at that point in time, the level of debt that council has is not in excess of the value of the land and working through what would be required in terms of debt repayment between…