Earthquake Economic Costs

This Thursday the Mayor and City Councillors will meet to consider a range of proposals aimed at boosting the ability of the city and region to respond to, and recover from, a major earthquake.

They will consider a report that outlines initiatives to make our commercial buildings and houses safer and the emergency routes in and out of the city more secure.

The report notes the potential costs to building owners for strengthening work and promotes a range of new financial arrangements by the Government, local authorities and the private sector that would improve access to capital.

The report suggests:
 

• accelerating safety checks on commercial buildings
• continuing work with heritage building owners to identify strengthening options
• trialling low-cost technology.

There are an estimated 400 unreinforced masonry buildings in Wellington. The cost to strengthen them is estimated at more than $500 million.

The quake issues - and the report - will be considered by the Strategy and Policy Committee at its meeting on Thursday 23 February starting at 9.15am. The meeting is in the Council Chamber in the Town Hall.