Posts by Sacha
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A snippet from Fran O'Sullivan.
Cabinet Ministers would have been well aware that more than one international reinsurer has been contemplating legal action against the Christchurch City Council over why developments took place on land which could obviously be compromised by a significant earthquake.
So, the Government has used its negotiating clout to bring some sense to behind-the-scenes disputes which have been hindering progress.
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More from govt about what will become of redzoned land, and how holdouts will be encouraged to leave.
Brownlee said houses sold to the Crown would not be left empty for long.
"As properties are settled, they'll be demolished and the sites will be cleared," he told The Press.
"I would like to think that all of those areas will be clear within two years."
The future of the abandoned areas was unclear, however.
Key said it was not the Government's intention to transfer the land to the Christchurch City Council and he could not rule out the abandoned areas becoming residential suburbs.
"We're talking decades, not years," Key said.
The Government is stopping short of compulsory acquisition, relying instead on the lack of infrastructure.
Brownlee said: "Why would you want to stay if there's no infrastructure in there for you? And there won't be."
He was confident "safe and adjacent" properties to the so-called "residential red zone" would retain their value.
It was suggested at yesterday's press conference that nearby property owners would have to look towards a wasteland, but Brownlee said the abandoned areas would end up being "relatively attractive".
Government-contracted engineers have suggested some areas may have to be raised two metres before being remediated.
Brownlee said it would be "at least seven years" before houses could sit on that land again.
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Southerly: Tower Insurance Have Some Bad…, in reply to Tasneem Gould,
He seems to be indicating that the current approach of the insurers is abhorrent to him also, so perhaps there is hope of govt intervention in our cases.
Key's speech to a National Party crowd in Queenstown is certainly interesting.
However, on balance, the arrangement with insurers and EQC - where homeowners would get a fraction of the land and property value - was "totally unacceptable".
He gave an example of a $600,000 property, of which $200,000 was land value.
Following an earthquake like one in Christchurch, the homeowner may only get about $110,000 of the land value and, if there was 20% damage to the home, about $80,000 from the insurance company - even if the land had been written off.
"They [the insurance company] say 'tough luck'. That's what we're faced with in Christchurch.
"Would that be acceptable to the New Zealand public?
"It's unacceptable to middle New Zealand ... and it's totally unacceptable if you live in those houses."
However I reckon there will be no change of policy to match those sentiments without significant and well-organised pressure being applied.
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Legal Beagle: Mana update, in reply to Graeme Edgeler,
other 'native' electorates
well played
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Southerly: Tower Insurance Have Some Bad…, in reply to Lucy Stewart,
I don't feel inclined to let them off
That's fine, but please let's focus people's energies on the organisation most likely to produce a positive result here. The one that is supposedly accountable to voters.
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Legal Beagle: Mana update, in reply to Graeme Edgeler,
Everyone, please avoid using the word... "Maori"... on the Internet for the next 17 hours and 39 minutes.
We shall call them 'natives' for the duration, sir.
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Southerly: Tower Insurance Have Some Bad…, in reply to Hebe,
can basically do what it wants wherever it wants with the Minister's say-so
Change the Minister.
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Southerly: Tower Insurance Have Some Bad…, in reply to andin,
Friday I was working, missed this
I'm just saying that the Press story published today was written yesterday. Haven't seen any other coverage. Was talking about journos; no reflection on the rest of us.
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Southerly: Tower Insurance Have Some Bad…, in reply to Sacha,
And another part of the jigsaw - Brownlee is determined to rebuild profitably on red-zoned land.
Oops, I see Ian had already quoted another part of that story.
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Southerly: Tower Insurance Have Some Bad…, in reply to andin,
Thursday announce, answer the questions, Friday it sinks in. Saturday, duck.
You mean Thursday, journos after their noon pre-announcement lockup don't uncover this fast enough to ask any questions (well hidden so no surprise there). Instead they faithfully regurgitate the talking points about how good the deal is and what a wonderful man that John Key is.
Friday, some read David's blog and do a little digging but make sure they don't credit him with breaking the story for them. Most still don't get that there's a story here.
Sunday, Key flies the coop so the shit won't stick to him. Business as usual for the hollow men.
Now, where's the organised political opposition? Who is acting in the interests of Christchurch homeowners rather than foreign-owned insurers and bankers?