Now that there is general agreement on the current estimated cost of the Earthquakes at around $40 billion it gives us some serious food for thought.
- This is the biggest ever Economic Development programme New Zealand has ever seen, by a quantum!
- The challenges this presents are massive and unprecedented
- We will need to find new ways to build scale to effectively manage the recovery
- There are opportunities in a rebuild of this magnitude for anyone who wants to be part of it
- We need a good forecasting model for the roll out of the Central City rebuild identifying timeframes, costs, priorities and responsibilities
- The City Council and Central Government must sort out their respective financial responsibilities for the key projects in the Central City with urgency
- We should remind ourselves that about 60% of the cost relates to housing damage. That is $24 billion. The resources required to cope with timely repairs/rebuilds are mind boggling
- Given the timeframes involved, the size of the challenge and the limited life of CERA, there may be a need for a well-structured governance model to lead the recovery into the future
- We have a unique opportunity to do something very special with our city and we must not squander it
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