• Donors
• Principles of cost management
• Project costs
• Project funding planning

Principles of cost management

There are two main principles which underpin the funding for the Civic Place Project.

Firstly, it should not result in a reduction in Council services or programs.

Secondly, an imperative was that Residential rates not be increased to fund the Civic Place Project.

As well a conservative estimate should be assumed regarding realisation of assets and revenue streams and should be based on prevailing market conditions. Other sources of income are to be supported by documented research and/or benchmarking.

On completion, the project funding plan is to be subjected to a third party review to critically appraise the assumptions and income projections detailed in the plans. The results of the review are to be publicly available.

At regular intervals throughout the project, and as the funding plan is updated and/or amended to accommodate the changing architectural design and commercial market, the funding plan will be audited by finance auditors PricewaterhouseCoopers who will report directly to the Civic Place Steering Committee.