17 Jan 2012

Asset sales mooted to reduce Dunedin debt

1:02 pm on 17 January 2012

Dunedin Mayor Dave Cull is raising the possibility of city assets being sold to reduce debt.

Council debt now totals $345 million, of which $148 million is due to the city's new stadium.

Mr Cull says making a final decision on this will have to await further analysis, including reports by a newly appointed board at Dunedin City Holdings Ltd.

If asset sales do proceed, he says they could include the city's electric lines company, an infrastructure maintenance company and pine forests.