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Procurement and Preparation of Land and Other Assets for the Development of Anchor Projects (M85)

Overarching Purpose Statement

The single overarching purpose of this appropriation is procurement of land and other assets for anchor projects covered by the Christchurch Central Recovery Plan, making the lands and assets safe, and the holding of that land and those assets prior to development.

Scope of Appropriation

Non-Departmental Other Expenses

Pre-Development Holding Costs - Operating
This category is limited to the maintenance, operation and ownership of anchor project land and assets prior to commencement of developments.

Procurement of Land and Assets - Operating
This category is limited to the purchase, acquisition and clearance of land and assets for anchor project development.

Non-Departmental Capital Expenditure

Land and Asset Acquisition - Capital
This category is limited to the cost of land and assets acquired for anchor project development.

Expenses, Revenue and Capital Expenditure

  2015/16
  Estimates
$000
Supplementary
Estimates
$000
Total
$000

Total Appropriation

83,170 (55,188) 27,982

Non-Departmental Other Expenses

     
Pre-Development Holding Costs - Operating 6,000 (3,394) 2,606
Procurement of Land and Assets - Operating 54,400 (42,571) 11,829

Non-Departmental Capital Expenditure

     
Land and Asset Acquisition - Capital 22,770 (9,223) 13,547

End of Year Performance Reporting

Performance information for this appropriation will be reported by the Prime Minister in a report appended to the Department of the Prime Minister and Cabinet's 2015/16 Annual Report.

Reasons for Change in Appropriation

This appropriation decreased by $55.188 million to $27.982 million in 2015/16. This appropriation initially increased due to a transfer of funding from 2014/15. The subsequent decrease in this appropriation is due to the transfer of activities from the Canterbury Earthquake Recovery Authority to the Treasury with a corresponding transfer of funding from Vote Canterbury Earthquake Recovery to Vote Finance from 31 March 2016.

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