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million.<br />
“We’re just not in the position, I believe, to afford that now, and I just don’t believe<br />
there’s the demand for it until there’s more people living in the centre of the city.”<br />
[Antanas Procuta of PAUA Architects believes council has vastly underestimated the<br />
cost of a new theatre.]<br />
Procuta’s preferred option was to refit Founders Theatre for $25-30 million so that it<br />
is adequate for the next 30 years until the city’s theatre-going population has grown<br />
enough to justify a new facility.<br />
“It is much better to tweak an existing building and make it better, and it will last 30<br />
or 40 years.”<br />
Property developer Matt Stark disagreed.<br />
“I’d be absolutely gutted if we spent $20 million on fixing up that old building.”<br />
Stark thought Hamilton City Council could come to regret spending money on an old<br />
facility in the wrong location in much the same way as Auckland City Council did with<br />
Eden Park.<br />
“[In 2006 Auckland Council considered] a waterfront stadium and now….we’re<br />
talking about it again after spending $250 odd million on Eden Park!”<br />
[Property developer Matt Stark thinks Hamilton might end up spending more on a<br />
new theatre later if it doesn’t pay for new one now.]<br />
White thought not all the money needed to come from the Hamilton City Council for<br />
a regional asset like a new theatre, and that money could also be sourced from other<br />
councils in the region.<br />
Squair suggested a public-private partnership could further remove some of the costs<br />
for the ratepayer, with council providing council land close to the river and developers<br />
or benefactors covering the construction costs.<br />
Stark thought it was better for the city to think first about the kind of new facility it<br />
wanted and worry about funding mechanisms later.<br />
“The money’s irrelevant…it [a new theatre] needs to achieve what the city feels like it<br />
needs to achieve.”<br />
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ISSUE 1 : BIZ <strong>HAMILTON</strong> : 11