20 Feb 2012

Dunedin council told to triple directors' fees

5:18 pm on 20 February 2012

Dunedin City Council has been told to triple the fees for directors of its main subsidiary board.

The council sacked the board of Dunedin City Holdings last year and is overhauling the way it is governed.

The fee recommendation was made by management consultant Warren Larsen in a report to the Dunedin council last year but was blacked out in the public version of the document.

Mr Larsen says they would have to pay directors $75,000 each and the board's chairman twice that at $150,000 to get the right people.

The suggested fees total about three times the $100,000 paid to the board before it was replaced by two interim directors.

The Dunedin Ratepayers and Householders Association says the city's ratepayers would not put up with such an increase.

Dunedin City Holdings runs the council's main company assets and paid the council more than $100 million in the last five years.